http://MikesDailyMarketReport.com:  There's no major economic data to report today; however, later this morning will be the 10 year Treasury Auction.  This could impact Mortgage Rates.  Yesterday, the 3 year Treasury had good results, even though there were about $35 billion in Corporate Bonds competing with those investment dollars.  Typically, a busy week for Corporate Bonds is $20 billion for a WEEK.  Today, there will be more Corporate Bond offerings (including Walmart and Toyota).  Stay Tuned!  Stocks are Down today, as investors begin to rebalance their positions again for end of quarter.  Most Investors are resigned to the sentiment that the Fed will taper later after August's Jobs data; even though Fed Member Bullard commented that he'd like the Fed to taper sooner than later.  ... 09/08/2021

http://MikesDailyMarketReport.com:  Light week, this week, for economic data!  The biggest factors for us (mortgage related) will be the Treasury and Bond Auctions being held throughout the week.  Today, we have the 3 yr Treasury (at the time of this video, it's results weren't released).  Stocks are trading in Mixed Territory again today, as they are still reviewing the Non Farm Payrolls released from last Friday.  Now, Investors are resigned to the sentiment that the Fed won't announce any taper until end of the year; and possibly start tapering early 2022.  Meanwhile, MBS started the morning in a deep dive (down about 19bps), but (luckily) reversed most of the losses and is currently Down about 6bps.  Most Lenders released their ratesheets after the rebound, so Mortgage Rates should ... 09/07/2021

http://MikesDailyMarketReport.com:  Today is the BIG Day for Investors, as they await the BLS' Jobs data.  Even though there was some positive revisions (approximately 150k) to the previous 2 month's data, Investors are very disappointed with the 235k number that the BLS reported for August.  However, the Unemployment Rate still dropped from 5.4% to 5.2% in August.  Average Earnings rose 0.6% in August, which is a bit concerning, as this will be inflationary data.  The Average Workweek remained Unchanged at 34.7 hours/week.  Lastly, the ISM Non-Manufacturing PMI dropped from 64.1 in July to 61.7 in August.  Anything above 50 is considered Positive/Expansion.  Stocks are in Mixed Territory, as there are 2 Camps battling it out.  Those whom believe the Fed will continue to taper this year... 09/03/2021

Something fairly unique to real estate in Redondo Beach is what's known as two on a lot townhomes.  When most people think of townhomes they envision a row of identical looking homes with shared walls, lots of neighbors, and a big HOA.  Redondo Beach 2 on a lot townhomes are dramatically different and many buyers from out of the area have trouble wrapping their heads around what this means. See the current two on a lot townhomes for sale Simply put a 2 on a lot townhome is a property in which the owner "owns" their home but instead of owning the lot or land outright...they own a 50% share of the lot.  When many of the original homes were built in Redondo Beach, the homes often enjoyed great lots of 7500 feet.  The original homes were simply beach bungalows or small duplexes.  As these R... 09/02/2021

http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped about 14k from last week's report, to 340k applying for first time benefits.  Also, it was released that the Challenger Layoffs dropped by nearly 3 million and Continuing Claims dropped by about 150k.  This could set up for an interesting day tomorrow, as Investors await the Non Farm Payroll and Unemployment data from the BLS.  Meanwhile, Labor Costs final Q2 revision came in at 1.3%, which may be due to employers enticing employees to return to work; and this will create more inflation concerns ahead.  Also, Productivity's final Q2 came in at 2.1%.  Lastly, Factory Orders rose 0.4% in July.  Stocks are pretty slow today and in Mixed Territory (NASDAQ lone index in Red), as Investors await Jobs data from BLS tomorrow.  M... 09/02/2021

http://MikesDailyMarketReport.com:  ADP was way off from it's estimates (613k) for August, which came in at 374k.  ISM Manufacturing PMI slightly rose from July to August, as it was reported at 59.9.  Anything above 50 is considered expansion/optimism.  Lastly, Construction Spending rose by 0.3% in July.  Stocks are taking it's queue from the ADP report today and all are in Positive Territory, as Bad News is Good News sentiment takes over Investors.  Why?  Because it may allow them to drink the Kool Aid a bit longer, as the Fed continues to monitor the Jobs data.  The most telling data will be released on Friday.  Meanwhile, there were some pretty wild swings this morning with MBS, as it currently sits Down 2bps.  Mortgage Rates will remain Unchanged from yesterday's close (as most Lend... 09/01/2021

http://MikesDailyMarketReport.com:  We have 2 Home Price Indices (HPI) being released today.  The Case Shiller rose 1.8% MoM in June and up 19.1% YoY.  The FHFA HPI, which measures single family homes with conforming loan limits, rose 1.6% MoM in June and it rose 18.8% YoY.  Manufacturing slowed down in Chicago for the month of August, as the Chicago PMI repots that it dropped from 73.4 to 66.8.  Also, Consumer Confidence dropped from 125.1 to 113.8 in August.  Stocks are Mixed for the last day of the month, as DOW is lone index in Positive Territory, however, by very thin margin.  China started the Markets off in Negative Territory, as their Manufacturing and Services both dropped.  Then EU reported a bit higher inflation than was forecasted.  MBS started much lower, but off it's earli... 08/31/2021

http://MikesDailyMarketReport.com:  This week will be about Jobs data for the month of August.  The ADP will release their data on Wednesday; Initial Jobless Claims on Thursday; and Friday will be the BLS' Non Farm Payrolls.  However, today, we have Pending Home Sales for July, which dropped 1.8%.  Stocks continue to rise and set new records today, even though Hurrican Ida hit Louisiana.  It's estimated that $40 billion in damage; and New Orleans is without power for at least a few days, as all their power grids are unable to send out power to anybody.  MBS is currently Up 8bps today, after it closed Up 28bps on Friday.  Lenders will be about the same in pricing as Friday's close.  If they didn't reprice for the better on Friday, then they will price out better rates today.  Meanwhile, ... 08/30/2021

http://MikesDailyMarketReport.com:  Personal Income rost by 1.1% in July; whereas, Consumer Spending rose only 0.3%.  The Fed's favorite inflation gauge was released today, which is the Personal Consumption Expenditure (PCE).  It rose 0.4% in July and it's YoY rose from 4.0% in June to 4.2% in July.  When you exclude food and energy, then you will have the Core PCE, or the Fed calls it Real Inflation (this is what the Fed watches more closely).  The Core PCE rose by 0.3% in July and it's YoY remained Unchanged at 3.6% (June's data was revised from 3.5% to 3.6%).  The Consumer Sentiment showed a HUGE dropoff in August!  The July data of 81.2 dropped to 70.3 for it's final number in August (it's mid-month was at 70.2).  However, the main catalyst for the week was this morning's speech by ... 08/27/2021

http://MikesDailyMarketReport.com:  The Initial Jobless Claims rose slightly to 353k, according to this week's report.  The 2nd look at Q2 GDP rose to 6.6% (slightly lower than forecasts); which, we'll receive final reading next month.  Stocks are Down today after several days of breaking new highs.  Today is the first day of the Jackson Hole Symposium, which we're hearing from a number of Hawkish speakers (Bullard, Kaplan and George), whom are stating they'd like to taper sooner than later.  Also, there are reports out of Afghanistan, which there were a few Bomb attacks in Kabul.  Reports are stating several fatalities and wounded.  Meanwhile, MBS went into negative territory after the ECB released their Minutes.  It was discussing their version of taper talk too.  MBS is currently Dow... 08/26/2021

http://MikesDailyMarketReport.com:  The Durable Goods Orders dropped 0.1% in July; however, if you exclude Transportation, then it rose 0.7%.  The drop in airplane orders is what is bringing the Durable Goods data down.  Meanwhile, Stocks continue to break new records, as they base their economic views on Q2 Corporate Earnings (vs. reported economic data) and comments by Fed Kaplan last week (softening in the tone of tapering).  Tomorrow is the beginning of the Jackson Hole Symposium, which Investors are waiting to watch (especially on Friday when Fed Chair Powell speaks).  This will be the catalyst for the week!  MBS is currently Down 8bps after seesawing in pretty wide swings in both directions.  Based on today's pricing and yesterday's swoon (closed down 11bps), then Lenders will pri... 08/25/2021

http://MikesDailyMarketReport.com:  New Home Sales rose 1.0% in July, as June's data was revised higher (from 676k seasonally adjusted annual units to 701k); and July came in at 708k.  Meanwhile, Stocks continue in the Positive Territory after yesterday's announcement of the FDA Approval for Pfizer/BioNTech vaccinations.  So, far about 90% of corporations of released their Q2 Earnings Reports, which most of them reported positive results.  Congress is still working to pass the Infrastructure and Spending bills; and Biden met with the G7 Leaders, whom are presumably trying to appeal to him to remain in Afghanistan past the August 31st date.  Meanwhile, MBS is Down about 9bps; however, yesterday, we had a late spike in MBS and closed at +20bps.  Lenders repriced for the better, as a resul... 08/24/2021

http://MikesDailyMarketReport.com:  The Markit PMI released it's Manufacturing and Services data today.  The Manufacturing dropped from 63.4 in July to 61.2 in August; and Services dropped from 59.9 in July to 55.2 in August.  Both slowdowns being attributed to the rise of COVID cases.  Existing Home Sales got a bump with an increase in supply over the summer, as it went up from 5.87 million seasonally adjusted annual units in June to 5.99 million in July.  Stocks are Up today, as Investors shrug off the Markit data, which only feeds into the Bad News is Good News.  Based on the Notes from the last FOMC, there was concern that the Fed may taper sooner than expected; however, based on more recent comments (notably by Fed Member Kaplan), then there may be some sentiment to hold on talks t... 08/23/2021

http://MikesDailyMarketReport.com:  There are no economic data to report today; however, next week will carry some heayweights, such as Q2 GDP and PCE.  But more importantly, Investors will be looking ahead for the Fed's Jackson Hole Symposium on Thursday (the 26th) to Saturday.  They'll be watching for any clues on tapering talk; as Fed's Kaplan (today) seemed to soften his stance on tapering after seeing the rise in the Delta variant.  Stocks are rebounding a bit today, as Investors cherry-pick stocks that took a bit of a beating this week.  Meanwhile, MBS is Down 6bps so far this morning.  Couple this with yesterday's late swoon, then Lenders will most likely have a little worse pricing today for Mortgage Rates.  Yields are testing it's Technical ceiling today and currently sits at 1... 08/20/2021

http://MikesDailyMarketReport.com:  The Business Activity around the Philadelphia region slowed up a bit in August, as the Philly Fed Index indicated that it droppe from 21.9 in July to 19.4 in August.  The Initial Jobless Claims reached a new low since the beginning of the pandemic, as it reported 348k applying for first time benefits; meanwhile, continuing claims continue to decline.  Obviously, this is good news, as (hopefully) more people are going back to work.  Lastly, the Leading Economic Indicators report 0.9% jump in July.  Stocks are being impacted by the release of the FOMC Minutes that were released yesterday.  There really wasn't news, as many of the Fed Members have been voicing the probability that the Fed could look to pull back on stimulus sooner than later since the FO... 08/19/2021

http://MikesDailyMarketReport.com:  Housing Starts dropped 7.0% in July, the numbers were 1.65 million seasonally adjusted units in June to 1.534 million in July.  However, Building Permits (future Housing Starts) rose 2.6%, which it's numbers were from 1.594 million seasonally ajusted in June to 1.635 million in July.  Meanwhile, the Markets are gearing up for the release of the last FOMC's Notes for any clues about discussion of tapering.  Investors will be looking ahead to next week's Jackson Hole's Symposium to see if the Fed drops any more clues.  We have already heard from several members whom support the discussion at Septembers meeting.  However, there are some whom think the Fed may want to see Septembers data before approaching the decision.  Hopefully, next week will be that ... 08/18/2021

http://MikesDailyMarketReport.com:  Retail Sales had a big miss in July, as it dropped 1.1%.  Part of the blame is being placed on Amazon moving up it's Prime Day to June,  Delta variant and Inflation.  However, Investors had a bigger drop in mind (part of the whisper numbers), as we'll touch in bonds/MBS' reaction to this news.  Industrial Production spiked to 0.9% in July; which is obviously good news!  However, Home Builders aren't so confident in August, as according to NAHB Home Builders Index, dropped from 80 to 75.  Lastly, Business Inventories picked up by 0.8% in June, as businesses prepare for workers to come back to work.  Stocks are nosediving today on the Retail Sales data.  China announced more restrictions on gathering private data on Tech companies, as they continue with... 08/17/2021

http://MikesDailyMarketReport.com:  The Empire State Index dropped from 43.0 in July to 18.3 in August.  Even though 18.3 is still a good number, it's the amount of the drop is something that will concern investors, as we deal with the Delta variant.  Meanwhile, Stocks are all in Negative Territory today, as Investors see a pretty steep drop in China's factory output and retail sales, as they lockdown for further control of the Delta variant; and it's potential impact here in the US.  Also, Investors begin to look into the impact of the Taliban's recapture of Afghanistan, as US forces leave the country.  Based on the higher jobs data of late, there's now speculation that the Fed may begin talking about tapering at it's September meeting.  Investors will be watching the Jackson Hole even... 08/16/2021

http://MikesDailyMarketReport.com:  The Bureau of Labor Statistics (BLS) released their Jobs data today, which is the catalyst for the week!  The Average Earnings rose 0.4% July, while Average Workweek Hours increased to 34.8 hours.  The BIG news came in for Non-Farm Payrolls, which was 943k in July; and June's numbers were revised higher by 88k.  Meanwhile, the Unemployment number dropped by 0.5% to 5.4% in July.  On the lighter side, Wholesale Inventories rose by 1.1% in June.  I was wrong with my assessment of the Jobs data this week.  I initially thought it might take more time for those to return to work may take more time and see the spike in August's numbers, which we will probably still see more spikes ahead, as more states remove their extra benefits.  Overall, excellent econom... 08/06/2021

http://MikesDailyMarketReport.com:  Initial Jobless Claims finally broke below 400k again, as it reported only 385k applied for first time benefits.  Continuing Claims broke below 3 million, as many of the extended benefits had expired; and Challenger Layoffs dropped by nearly 1.5 million (fewer announced job layoffs).  Stocks are up on the positive news from the economic data and positioning themselves for more possible news tomorrow with the BLS's Non-Farm Payrolls, which is expecting around 885k.  As a result, MBS is currently Down about 13bps, which Lenders priced in a little worse today with Mortgage Rates (from yesterday's close).  Meanwhile, Yields is sneaking it's head back above 1.20%; and currently sitting just  under 1.22%.  Please subscribe to my YouTube Channel at MikesDail... 08/05/2021