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Market Commentary


 
Today's Coupons
 
  10-Year Notes   102-14 (+23) 1.975%  
 
  FN 3.5% Coupon   104-06.5 (+08.5)  
 
  Support   2.260%  
 
  Resistance   2.040%  
 
 
 
 
Today's Blurb Wednesday, January 20, 2016
 
 
          MBA Mortgage Applications advanced 9.00% last week following a 21.30% jump the week prior. Purchases slipped 1.60% following a 17.80% gain prior, Refinancing rose 18.70% following a 23.80% jump prior, and the average interest rate for a Conforming Conventional loan fell from 4.120% to 4.060%. Housing Starts disappointed market expectations for a 2.30% advance in December, contracting 2.50% with a downward revision in November from 10.50% to 10.10%. Building Permits fell 3.90% in December with a downward revision in November from 11.00% to 10.40%. Single Family Starts fell 3.30% and Multifamily Starts edged down 1.00% in December. Consumer prices dropped 0.10% in December led by declining commodity prices. Excluding Food and Energy, Consumer Prices edged up 0.10% (consensus +0.20%) following a 0.20% monthly advance in November. The Core CPI posted in line with expectations, up 2.10% YoY. Treasuries are up this morning as the global economic outlook, which continues to favor safe haven demand, and the disappointing data releases add winds to Treasury sails. The curve has flattened with 2s10s down 2.0 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/18 No Data - - - - - -  
                   
  01/19 NAHB Housing Market Index 07:00 Jan 61.00 - 61.00 -  
                   
  01/20 MBA Mortgage Applications 04:00 15 Jan   9.00%   21.30% -  
                   
  01/20 Housing Starts 05:30 Dec 1200K 1149K 1173K 1179K  
                   
  01/20 Housing Starts MoM 05:30 Dec   2.30% -2.50%  10.50% 10.10%  
                   
  01/20 Building Permits 05:30 Dec 1200K 1232K 1289K 1282K  
                   
  01/20 Building Permits MoM 05:30 Dec -6.40% -3.90%   11.00% 10.40%  
                   
  01/20 CPI MoM 05:30 Dec   0.00% -0.10%   0.00% -  
                   
  01/20 CPI YoY 05:30 Dec   0.80% 0.70%   0.50% -  
                   
  01/21 Philadelphia Fed Business Outlook 05:30 Jan -5.90 - -5.90 -10.20  
                   
  01/21 Initial Jobless Claims 05:30 16 Jan 278K - 284K -  
                   
  01/21 Continuing Claims 05:30 9 Jan 2250K - 2263K -  
                   
  01/21 Bloomberg Consumer Comfort 06:45 17 Jan - - 44.40 -  
                   
  01/22 Chicago Fed Nat Activity Index 05:30 Dec -0.15 - -0.30 -  
                   
  01/22 Markit US Manufacturing PMI 06:45 Jan P - - - -  
                   
  01/22 Existing Home Sales MoM 07:00 Dec - - -10.50% -  
                   
  01/22 Existing Home Sales 07:00 Dec - - 4.76M -  
                   
  01/22 Leading Index 07:00 Dec - - 0.40% -  
                   
 
 
 
 
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  This information is provided solely for informational use and is not intended as trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice  
 
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