Daily Market Report 9/17/21

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

http://MikesDailyMarketReport.com:  The Consumer Sentiment reported it's mid-September number rose from 70.3 to 71.0.  We'll receive September's final reading toward the end of the month.  Meanwhile, Stocks are facing volatility, as today is the Quadruple Witching (expiration of options for 4 different sectors).  Stocks are all in the Red today.  Also, heading into next week is the FOMC, which will hold very high relevance, as many investors are uncertain if the Fed will begin tapering this year or next due to the recent data.  MBS is also taking a bit of a beating today too, as it's currently Down 11bps.  It was down more earlier today, which led Lenders to price their ratesheets a bit worse today (higher Mortgage Rates).   Yields have shot up to 1.38%, which is at the high end of the trading range.  We've been trading (roughly between) the 1.26% to 1.38% range.  Once it has hit the higher or lower range, then it has been bouncing to the other end.  However, next week could potentially push Yields higher, as Chairman Powell provides his announcement after the FOMC.  Stay tuned and be ready for more choppiness ahead of the FOMC announcement, as investors position themselves.

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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 Michael,  not a fan of higher mortgage rates maybe but I know it can not stay low forever.

 

Sep 17, 2021 10:55 AM
Mike Bjork

I'm with you!  Luckily, regardless where rates stand, people will always buy homes (as we saw in the 1980s).

Sep 20, 2021 10:08 AM