The UST10-Year yield is at 2.352% this morning after closing at 2.394% yesterday.
U.S. Treasury yields are lower this morning having extended their longest rally since June. The bondmarketrallied following strong demand for overseas government bond sales and ahead of the $23 Billion 10-Year T-note auction later this morning.
In economic news, the sole release this morning was MBA Mortgage Applications, which improved by 2.30% for the week ended February 3rd, however, applications still remained 23.00% below last year’s level. FHA purchases were up 2.00% after falling 5.60% the week prior and VA refinances rose 9.80% following a 7.40% rise the previous week. The average 30-Year fixed rate mortgage is down to 4.350% vs. 4.390% last week.
The dollar weakened, with the DXY down 0.12% and crude oil prices are down to $51.79 per barrel.
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
U.S. Treasury yields are lower this morning having extended their longest rally since June. The bond market rallied following strong demand for overseas government bond sales and ahead of the $23 Billion 10-Year T-note auction later this morning.
In economic news, the sole release this morning was MBA Mortgage Applications, which improved by 2.30% for the week ended February 3rd, however, applications still remained 23.00% below last year’s level. FHA purchases were up 2.00% after falling 5.60% the week prior and VA refinances rose 9.80% following a 7.40% rise the previous week. The average 30-Year fixed rate mortgage is down to 4.350% vs. 4.390% last week.
The dollar weakened, with the DXY down 0.12% and crude oil prices are down to $51.79 per barrel.
The curve has bull-flattened with the UST 10-Year 4.2 bps down from prior closing.