Daily Market Report 7/23/21

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

http://MikesDailyMarketReport.com:  Today, we have IHS Markit PMI releasing their 2 reports, Manufacturing and Services.  The Services sector dropped down to 59.7; however, the Manufacturing sector rose to 63.1 in July.  Stocks continue their upward trend, based on Q2 Corporate Earnings Reports and keeping an eye toward next week's schedule of events (Q2 Earnings Reports for much of the High Tech Companies and FOMC).  MBS started the morning much lower, which Lenders whom release their ratesheets earlier on may have priced for the worse; however, MBS is Up 6bps.  So, Mortgage Rates should be priced now to the same pricing we found after yesterday's close.  Meanwhile, Yields are sticking around the 1.29%.

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Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.

 

Comments (1)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Mike and thanks for the great report today to share with us here in the rain.

 

Jul 23, 2021 04:29 PM
Mike Bjork

Always a pleasure, Will!  Thanks for the support!  Best of wishes!


 

Jul 26, 2021 10:34 AM