Daily Market Report 7/26/21

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Mortgage and Lending with Evolve Bank & Trust NMLS #275652

http://MikesDailyMarketReport.com:  New Homes Sales dropped by 6.6% in June to 676k seasonally adjusted annualized units.  This is also on the heels of a lower revision to May's numbers, which dropped from the initial 769k to 724k.  Stocks are Mixed today, as they look ahead in the week, as the Fed will begin their 2 day meeting tomorrow and we'll have some members of the FAANG releasing their Q2 Earnings reports this week, including Tesla's being released after hours today.  NASDAQ is the lone index in Red, as US and China's relationship become a bit more contentious.  MBS started the morning a little higher, but it slipped back down to Unchanged levels, so Mortgage Rates remain unchanged from Friday's closing.  Yields were similar, as they remain under the 1.29% ceiling and currently sit at 1.28%.

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