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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-03.5 (-15.5) 1.833%  
 
  FN 3.5% Coupon   104-17.5 (-03.5)  
 
  Support   2.160%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Wednesday, February 17, 2016
 
 
           MBA Mortgage Applications rose 8.20% last week following a 9.30% rise the week prior. Purchases declined 3.70% following a minor 0.20% advance prior (+29.80% YoY), Refinancing rose 16.00% following a 15.80% jump prior (+22.10% YoY), and the average interest rate for a 30-Year Conventional Conforming loan fell from 3.910% to 3.803% (3.930% a year ago). Housing Starts fell 3.80% in January (consensus +2.00%) to a 1099K unit rate following a downwardly revised 1143K unit rate prior. January Building Permits slipped 0.20% to 1202K unit rate from a downwardly revised 1204K in December. Single family starts fell 3.90%, and multifamily starts fell 3.70%. The PPI for January rose 0.10%, with a 0.40% rise in the core. PPI is down 0.20% YoY, and the core is up 0.60% YoY. Goods prices declined 0.70%, food prices rose 1.00%, and energy prices slid 5.00%. Industrial Production for January rose 0.90% following a downwardly revised -0.70% prior. Treasuries are lower this morning following the data release and the curve is steeper with 2s10s up 2.5 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/15 No Data - -   - - - -  
                   
  02/16 Empire Manufacturing 05:30 Feb    -10.00   -16.64    -19.37 -  
                   
  02/17 MBA Mortgage Applications 04:00 12 Feb - 8.20%     9.30% -  
                   
  02/17 Housing Starts 05:30 Jan 1173K 1099K  1149K 1143K  
                   
  02/17 Housing Starts MoM 05:30 Jan   2.00% -3.80%  -2.50% -2.80%  
                   
  02/17 Building Permits 05:30 Jan 1200K 1202K 1232K 1204K  
                   
  02/17 Building Permits MoM 05:30 Jan   -0.30% -0.20% -3.90% -6.10%  
                   
  02/17 PPI Final Demand MoM 05:30 Jan   -0.20%   0.10% -0.20% -  
                   
  02/17 PPI Final Demand YoY 05:30 Jan   -0.60% -0.20% -1.00% -  
                   
  02/17 Industrial Production MoM 06:15 Jan   0.40%   0.90%  -0.40% -0.70%  
                   
  02/17 Capacity Utilization 06:15 Jan    76.70%   77.10%  76.50%   76.40%  
                   
  02/17 U.S. Fed Releases Minutes from FOMC Meeting 11:00 26 - 27 Jan  - -  - -  
                   
  02/18 Philadelphia Fed Business Outlook 05:30 Feb  -3.00 -   -3.50 -  
                   
  02/18 Initial Jobless Claims 05:30 13 Feb  - -   - -  
                   
  02/18 Continuing Claims 05:30 6 Feb  - -   - -  
                   
  02/18  Bloomberg Consumer Comfort 06:45 14 Feb   -  -   - -  
                   
  02/19 CPI MoM 05:30 Jan   - -   -0.10% -  
                   
  02/19 CPI YoY 05:30 Jan   - -   0.70% -  
                   
 
 
 
 
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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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