Daily Market Report 9/27/21

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

http://MikesDailyMarketReport.com:  The Durable Goods Orders rose 1.8% in August; but if you exclude Transportation,  then it only rose 0.2%.  There will be Treasury and Bond Auctions this week, which can impact Mortgage Rates, so we'll keep an eye on demand.  Stocks are in Mixed Territory, as Yields jumped up to nearly 1.52% earlier on, but has pulled back down to just under 1.48%.  There are a few Fed Speakers out this week, which Chicago Fed Evans had an interesting take, which he thought that he was more concerned in not having enough inflation than it running too hot.  Also, Boston Fed Rosengren announced he'll retire at the end of the month ( this week).  There is a bit of a Global Energy Crisis, which China has been experiencing power shortages, which has led to factory closures; and the UK has an issue with having enough truckers, which has led to people hoarding gasoline.  Here in the US, Costco announced they'll place limits on water and toilet paper, as to avoid further hoarding during tight supply.  Mortgage Rates have worsened again today, as MBS is currently Down 13bps.

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Comments (1)

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

Hello Mike and thanks for the report to see what we could see this week.  Make it a great week.

 

Sep 27, 2021 12:34 PM
Mike Bjork

Thanks, Will!  It would certainly be nice to find some sort of footing!  It's creating havoc on the stock market too.

Sep 28, 2021 09:07 AM