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Market Commentary

Market Commentary

February 11, 2015
10-YEAR NOTES   102-10 (+03)
FN 3.5% COUPON   104-18.5 (+01)
SUPPORT   2.40%




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    MBA Mortgage Applications fell -9.0% last week after rising +1.3% the week prior. Purchases fell -6.5% vs. -2.3% prior (+1.2% YoY), Refinancing declined -10.3% vs. +2.5% prior (+41.8% YoY), and the average interest rate for a conventional conforming loan rose from 3.79% to 3.84%. Treasuries are hovering near flat to yesterday's 2:00 PM close levels and MBS has widened nearly 1 tick in the production coupons. The curve has slightly bull steepened with 2s10s edging up +0.1 bps.
This Week's Events:
02/11 MBA Mortgage Applications 04:00 February 6 - -9.0% 1.3% -
02/11 Monthly Budget Statement 11:00 January -$19.0 Billion - -$10.3 Billion -
02/12 Retail Sales Advance MoM 05:30 January -0.4% - -0.9% -
02/12 Jobless Claims 05:30 February 7 287K - 278K -
02/12 Continuing Claims 05:30 January 31 2400K - 2400K -
02/12 Business Inventories 07:00 December 0.2% - 0.2% -
02/13 Import Price Index MoM 05:30 January -3.2% - -2.5% -
02/13 Import Price Index YoY 05:30 January -8.9% - -5.5% -
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This information is provided solely for informational use and is not intended as a trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not liscensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to 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, price, guidelines, fees, costs, terms and conditions are subject to change without notice.