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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   102-01 (-05) 2.020%  
 
  FN 3.5% Coupon   104-06.5 (-02.5)  
 
  Support   2.260%  
 
  Resistance   1.930%  
 
 
 
 
Today's Blurb Wednesday, January 27, 2016
 
 
      MBA Mortgage Applications rose 8.80% last week following a 9.00% rise the week prior (-15.10% YoY). Purchases rose 4.60% vs. -1.60% prior (+22.50% YoY), Refinancing rose 11.30% vs. 18.70% prior, and the average interest rate for a Conventional Conforming 30-Year loan fell from 4.060% to 4.020%. New Home Sales outpaced the consensus call for a 2.00% rise, up 10.80% in December to a 544K annualized rate from 491K prior (revised). A strong New Home Sales report points to a short term increase in consumer spending which should trickle down to GDP. Later today the FOMC will release the statement from their January meeting, and market expectation is for the Fed funds target rate to remain at 25-50 bps. It is likely that the Fed will acknowledge the slowdown in recent U.S. data as well as the growing global financial market volatility with a more dovish statement. Treasuries are lower this morning ahead of the FOMC statement release and the curve has steepened with 2s10s up 2.0 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  01/25 Dallas Fed Manf. Activity 06:30 Jan -14.00 -34.60 -20.10 -21.60  
                   
  01/26 FHFA House Price Index MoM 06:00 Nov   0.50% 0.50%   0.50% -  
                   
  01/26 S&P/Case-Shiller US HPI MoM 06:00 Nov - 0.87%   0.88% -  
                   
  01/26 Markit US Services PMI 06:45 Jan P 54.00 53.70 54.30 -  
                   
  01/26 Markit US Composite PMI 06:45 Jan P   - 53.70  54.00 -  
                   
  01/26 Consumer Confidence Index 07:00 Jan 96.50 98.10 96.50 96.30  
                   
  01/26 Richmond Fed Manufact. Index 07:00 Jan 2.00 2.00   6.00 -  
                   
  01/27 MBA Mortgage Applications 04:00 22 Jan   -   8.80%   9.00% -  
                   
  01/27 New Home Sales 07:00 Dec   500K 544K   490K 491K  
                   
  01/28 Initial Jobless Claims 05:30 23 Jan   281K -   293K -  
                   
  01/28 Continuing Claims 05:30 16 Jan  2218K -  2208K -  
                   
  01/28   Durable Goods Orders 05:30 Dec P  -0.70% -   0.00% -  
                   
  01/28 Bloomberg Consumer Comfort 06:45 24 Jan - - 44.00 -  
                   
  01/28 Kansas City Fed Manf. Activity 08:00 Jan -10.00 - -9.00 -  
                   
  01/29 GDP Annualized QoQ 05:30 4Q A     0.80% - 2.00% -  
                   
  01/29 Personal Consumption 05:30 4Q A     1.80% - 3.00% -  
                   
  01/29 GDP Price Index 05:30 4Q A - - 1.30% -  
                   
  01/29 ISM Milwaukee 06:00 Jan - - - -  
                   
  01/29 U. of Mich. Sentiment 07:00 Jan F - - - -  
                   
 
 
 
 
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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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