Daily Market Report 12/7/21

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

http://MikesDailyMarketReport.com:  Today, we get the final reading for both the Productivity and Labor Costs for the 3rd Quarter.  Productivity dropped 5.2%; and Labor Costs spiked upward to 9.6%.  The latter is an index closely watched by the Fed, whom have already indicated a shift in policy in their upcoming FOMC.  This new report will only add more incentive for the Fed to react quickly to stave off out of control inflation.  Tomorrow, we'll have the 10 year Treasury Auction, which can impact Mortgage Rates, as we watch for any appetite from Investors.  Currently, MBS is Down 16pbs, so Mortgage Rates have worsened again today, as Investors are shifting their investment funds away from Bonds back to Equities.  Yields are also rising as a result, as they are currently just under 1.47%.  One geopolitical area to watch is the tension growing with Ukraine, as Russia is piling up troops on the border.  This type of event could disrupt the Markets, if it continues to escalate.  Stay tuned!

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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 (2)

Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Mike,

WE all hope that Russia lets the Ukraine be.  Thank you for your market report.  I enjoy it.  Happy Tuesday.  A

Dec 07, 2021 03:14 PM
Mike Bjork
Evolve Bank & Trust - Redondo Beach, CA

Hi Alexandra,

I totally agree!  We really don't need conflict.  Hopefully, we can all find some common ground and positive resolution.

Mike

Dec 08, 2021 12:16 PM