We have a busy calendar today ahead of tomorrow's 4Q GDP print. CPI for January was largely in line with expectations, down -0.7% vs. -0.4% prior (consensus -0.6%). The energy index fell -9.7% as the gasoline index fell -18.7%, and the food index was unchanged from the prior month. Excluding food and energy CPI rose +0.2% after no growth in December (consensus +0.1%). Durable Goods for January reversed three consecutive months of declines with a +2.8% jump (consensus +1.6%), and the prior was revised down from -3.4% to -3.7%. Excluding transportation Durable Goods rose +0.3% vs. -0.8% prior (consensus +0.5%). The number of Americans filing for unemployment rose last week to 313K vs. 282K the week prior (consensus 290K). Continuing Claims fell to 2401K vs. 2422K prior (consensus 2394K). The FHFA House Price Index rose +0.8% in December after rising +0.7% in November (consensus +0.5%). Treasuries are still below 2%, however the 10-Year note yields have taken an upswing as the market digests today's data dump at +2.4 bps vs. yesterday's close. The curve has bear flattened with 2s10s down -1.3 bps.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
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.