http://MikesDailyMarketReport.com: Existing Home Sales dipped 3.4% in May to 5.41 million seasonally adjusted units. There's not a lot of data being released this week on the Economic Calendar, so most impact will come from headline/geopolitical news or investor sentiment. Stocks are Up today, as investment dollars continued to flow from Bonds to Equities. MBS started the morning down much lower and is currently Down 16bps, as Lender ratesheets have worsened since Friday's Market close. Yields have shot up to just under 3.30% today.
**As Mortgage Rates spiked over 6% over past few days, ask me about our 7/6 ARM, which may be a good alternative for you or your client. Contact me today!**
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