Daily Market Report 7/20/21

Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com:  Housing Starts increased from (lower revision) of 1.546 million annualized units in May to 1.643 million, or up 6.3%, in June.  However, Building Permits declined by 5.1%, from 1.683 million annualized units in May to 1.598 million in June.  These, of course, are future Housing Starts.  We have seen a little bit of a pullback in Home Builders sentiment recently, so this isn't too surprising.  Stocks are rebounding after yesterday's big selloff.  Investors are buying back in, as sentiment is Monday's actions were a bit overblown.  MBS are off it's earlier highs, which better pricing was very short-lived.  Mortgage Rates are currently Unchanged from yesterday's close.  We're also seeing signs of a possible trend reversal, as candlesticks show some uncertainty with Investors.  Yields touched 1.13% earlier, but has rebounded higher to 1.21%.

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Comments (1)

Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net


Strong national numbers for sure. Thanks for the post and make it a productive Tuesday.  If you have commented on my blog, a huge thank you for it. Bill Salvatore

Jul 20, 2021 01:00 PM
Mike Bjork

Thanks, Bill!  Appreciate you stopping by and leaving a comment!  Always a pleasure!  Best of wishes to you!  I've been on your blog; and I enjoy it.  Thank you!

Jul 21, 2021 11:35 AM