Daily Market Report 5/25/22

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

http://MikesDailyMarketReport.com:  The Durable Goods Orders had a lower revision to it's March report, as it went from 1.1% to 0.6%.  It's April's report underwhelmed at 0.4% after forecasts were calling for 0.6%.  Later today, the FOMC Minutes will be released, which could impact the Markets in the 2nd half of the trading day.  Investors are worried over the Fed's tightening policies and high inflation, along with the war in Ukraine and lockdowns in China.  The concern is regarding the possibilities of the economy going into a recession, or worse yet, stagflation.  Corporate Earnings are reiterating those concerns with their worsening profit margins and their outlooks.  Stocks are currently in Mixed trading range; whereas, MBS is in relatively Unchanged levels (ranging between -2bps and +3bps).  So, this current range does not have any change with Mortgage Rates (in comparison from yesterday's close).  Yesterday was a good day for MBS, as they closed upward of 56bps and are approaching it's 50 DMA.  So, it will pose the question if the 50 DMA will cap out the MBS movement, or can it break above it?  Meanwhile, Yields are hovering around 2.76% this morning.

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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)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information. Thanks for sharing and enjoy your week!

May 25, 2022 01:39 PM
Mike Bjork

Thanks, Bill!  I appreciate the support!  Take care and have a great rest of your week!

May 26, 2022 11:04 AM