Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-19(+13.5) 1.669%  
 
  FN 3.5% Coupon   104-29 (+04)  
 
  Support   2.160%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Wednesday, February 24, 2016
 
 
           MBA Mortgage Applications fell 4.30% last week following two consecutive weekly advances of 8.20% and 9.30% prior (+23.80% YoY). Purchases rose 2.20% vs. -3.70% prior (+27.00% YoY), Refinancing fell 7.70% vs. 16.00% prior (+21.80% YoY), and the average interest rate for a 30-Year Conventional Conforming loan edged up from 3.830% to 3.850% (3.990% a year ago). Markit US Services PMI contracted in February from 53.20 to 49.80 (consensus 53.50), and Markit US Composite PMI also moved downward from 53.20 to 50.10. New Home Sales fell more than forecast in January, down 9.20% (consensus -4.40%) for the weakest return in three months. January’s housing miss was coupled with a downward revision in December from 10.80% to 8.20%. The supply of homes increased from 5.1 months in December to 5.8 months in January, with 238K new houses on the market at the end of January (most since Oct 2009). The jobless rate reaching an eight year low of 4.90%, along with hourly earnings starting to show advances may be supporting the housing market. Treasuries are advancing this morning, supported by the data release along with haven demand sparked by declines in stocks/oil.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  02/22 Chicago Fed Nat Activity Index 05:30 Jan   -0.05 0.28 -0.22 -0.34  
                   
  02/22 Markit US Manufacturing PMI 06:45 Feb P    52.40   51.00  52.40 -  
                   
  02/23 S&P/Case-Shiller US HPI MoM 06:00 Dec -   0.78%   0.87%   0.83%  
                   
  02/23 S&P/Case-Shiller US HPI YoY 06:00 Dec -   5.43%   5.35%   5.22%  
                   
  02/23 Consumer Confidence Index 07:00 Feb 97.20 92.20 98.10 97.80  
                   
  02/23 Richmond Fed Manufact. Index 07:00 Feb 2.00 -4.00 2.00 -  
                   
  02/23 Existing Home Sales 07:00 Jan 5.33 M 5.47 M 5.46 M 5.45 M  
                   
  02/23 Existing Home Sales MoM 07:00 Jan -2.50%   0.40%    14.70% 12.10%  
                   
  02/24 MBA Mortgage Applications 04:00 19 Feb - -4.30%     8.20% -  
                   
  02/24 Markit US Services PMI 06:45 Feb P 53.50 49.80  53.20 -  
                   
  02/24 Markit US Composite PMI 06:45 Feb P  - 50.10  53.20 -  
                   
  02/24 New Home Sales 07:00 Jan 520K 494K 544K -  
                   
  02/24 New Home Sales MoM 07:00 Jan   -4.40% -9.20%   10.80% 8.20%  
                   
  02/25 Initial Jobless Claims 05:30 20 Feb   270K  - 262K -  
                   
  02/25 Continuing Claims 05:30 13 Feb   2253K - 2273K -  
                   
  02/25 Durable Goods Orders 05:30 Jan P   2.70% - -5.00% -  
                   
  02/25 FHFA House Price Index MoM 06:00 Dec  0.50%  -  0.50%  -  
                   
  02/25 Bloomberg Consumer Comfort 06:45 21 Feb  - -  44.30 -  
                   
  02/25 Kansas City Fed Manufact. Index 08:00 Feb  -6.00 - -9.00 -  
                   
  02/26 GDP Annualized QoQ 05:30 4Q S  0.40% -   0.70% -  
                   
  02/26 Personal Consumption 05:30 4Q S 2.20% -   2.20% -  
                   
  02/26 GDP Price Index 05:30 4Q S 0.80% -   0.80% -  
                   
  02/26 Personal Spending 07:00 Jan - - - -  
                   
  02/26 Personal Income 07:00 Jan - - - -  
                   
  02/26 U. of Mich. Sentiment 07:00 Feb F - - - -  
                   
  02/26 PCE Deflator MoM 07:00 Jan  - -   - -  
                   
  02/26  PCE Deflator YoY 07:00 Jan   -  -   - -  
                   
  02/26 PCE Core MoM 07:00 Jan  -  -   - -  
                   
  02/26 PCE Core YoY 07:00 Jan   - -  - -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   Resolve Loan Conditions  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  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  
 
© Sun West Mortgage Company, Inc. All Rights Reserved