Daily Market Repot 10/15/21

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

http://MikesDailyMarketReport.com:  Retail Sales came in strong for September for the 2nd consecutive month, as it reported a 0.7% increase (higher than the -0.2% forecasts); and even when you exclude Autos, it was strong (0.8%)!  Stocks are really liking this release, along with continued positive Q3 Earnings Reports being released.  The Empire State Index indicated that manufacturing slowed a bit in October, as it dropped from 34.3 in September to 19.8 for October.  Also, the Consumer Sentiment dropped a little bit in October, as it went from 72.8 to 71.4.  MBS is Down 13bps this morning on the positive economic data being published today and being pressured further with rising Yields, which has spiked back above the 2 technical levels that it slipped thru during this week.  Yields are up to 1.57% (yesterday, it was around 1.52%).  Mortgage Rates appear to have climbed about an .125% to the rate today on the news.

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Comments (1)

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

Hello Mike not thrill about interest rates climbing a little but as long it does not keep going up all the time.

 

Oct 15, 2021 09:25 AM
Mike Bjork

I'm with you, Will!  We get a little spoiled when we have such terrific rates.  It's going to be very interesting to see what happens over the next year or two, as the economy isn't really all that well, as the MSM props it up; and inflation is getting a bit out of control.  The Fed will have it's work cut out for itself.

Oct 18, 2021 10:49 AM