Daily Market Report 7/13/21

By
Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com:  Both the Consumer Price Index (CPI) and the Core CPI (excludes food & energy) rose 0.9% in June.  The CPI rose from 5.0% in May to 5.4% in June; while, the Core CPI rose from 3.8% in May to 4.5% in June.  This is the highest spike we've seen in 30 years (Sept, 1991).  Markets initially reacted negatively, but has since subsided.  Currently, only the DOW is in Negative Territory.  Q2 Corporate Earnings Reports are beginning to be released, as several of the Major financial institutions (like Chase and Goldman Sachs) released their reports today.  Mortgage Rates remain Unchanged, as MBS is currently Up 2bps.  Yields are sitting just under 1.36% currently.

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