#usmortgageratesriseto7.49%
Welcome to Mid-Week Trade! Markets are moving, with more hysteria hitting the newswires over bond yields. The US 10-Year Note has risen to levels not seen in 20+ years; 30-year mortgage rates are nearing 7.5%, and the USD is on the march. Let’s dive in.
During the US pre-market hours, the MBA 30-Year Mortgage Rate rose to 7.49% from 7.30% one week ago. Mortgage applications fell 4.2% week over week, extending the recent downturn in prospective home buyers.
In energy news, #EIA crude oil inventories fell by 3.186 million barrels for the week. The key story continues to be distillates stocks, which now stand at 12% below the five-year average. Diesel is a distillate, so it looks like more pain at the pump is likely.
Bitcoin is one of the big movers, off more than 3% in the session. Here’s a support level worth watching in #BTC for the near future:
Weekly 62% Fibonacci Retracement, 79,673
Check out our Key Levels for more information on this Trade Idea.
That’s all for now…see you at #fomc Minutes Live later today!$BTC $SAND $SKDD
Welcome to Mid-Week Trade! Markets are moving, with more hysteria hitting the newswires over bond yields. The US 10-Year Note has risen to levels not seen in 20+ years; 30-year mortgage rates are nearing 7.5%, and the USD is on the march. Let’s dive in.
During the US pre-market hours, the MBA 30-Year Mortgage Rate rose to 7.49% from 7.30% one week ago. Mortgage applications fell 4.2% week over week, extending the recent downturn in prospective home buyers.
In energy news, #EIA crude oil inventories fell by 3.186 million barrels for the week. The key story continues to be distillates stocks, which now stand at 12% below the five-year average. Diesel is a distillate, so it looks like more pain at the pump is likely.
Bitcoin is one of the big movers, off more than 3% in the session. Here’s a support level worth watching in #BTC for the near future:
Weekly 62% Fibonacci Retracement, 79,673
Check out our Key Levels for more information on this Trade Idea.
That’s all for now…see you at #fomc Minutes Live later today!$BTC $SAND $SKDD