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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-23.5 (-06) 1.989%  
 
  FN 3.5% Coupon   103-28 (-03)  
 
  Support   2.140%  
 
  Resistance   1.720%  
 
 
 
 
Today's Blurb Wednesday, March 16, 2016
 
 
            MBA Mortgage Applications fell 3.30% last week following a 0.20% rise prior (+20.90% YoY). Purchases edged up 0.30% vs. 4.20% prior (+32.60% YoY), Refinancing fell 5.60% vs. -2.30% prior (+12.80% YoY), and the average interest rate for a 30-Year Conventional Conforming loan rose to 3.940% from 3.890% prior (3.990% a year ago). Housing Starts advanced more than expected in February, up 5.20% (consensus +4.60%), with an upward revision in January from -3.80% to -3.40%. February's Building Permits fell 3.10% with an upward revision in January from -0.20% to 0.00%. Single Family Starts rose 7.20%, while multifamily starts rose 0.80%. Headline CPI posted in line with expectations, down 0.20% in February following 0.00% in January. Core CPI rose more than anticipated, up 0.30% (consensus 0.20%) for the second consecutive month. Industrial Production fell 0.50% in February (consensus -0.30%) with a downward revision in January from 0.90% to 0.80%. Today the FOMC will release their statement followed by a Q&A with Chair Yellen. Treasuries are lower this morning following the rise in core CPI and hotter than expected housing starts and the curve has steepened with 2s10s up 0.3 bp.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/14 No Data - -  -   -  - -  
                   
  03/15 Retail Sales Advance MoM 05:30 Feb   -0.20%   -0.10%   0.20%   -0.40%  
                   
  03/15 PPI Final Demand MoM 05:30 Feb   -0.20%   -0.20%   0.10% -  
                   
  03/15 PPI Final Demand YoY 05:30 Feb   0.10%     0.00%  -0.20% -  
                   
  03/15 Empire Manufacturing 05:30 Mar -10.50 0.62 -16.64 -  
                   
  03/15 NAHB Housing Market Index 07:00 Mar 59.00 -   58.00 -  
                   
  03/15 Business Inventories 07:00 Jan   0.00%      0.10%   0.10% 0.00%  
                   
  03/16 MBA Mortgage Applications 04:00 11 Mar  -   -3.30%   0.20% -  
                   
  03/16 Housing Starts 05:30 Feb  1150K  1178K  1099K 1120K  
                   
  03/16 Housing Starts MoM 05:30 Feb   4.60%    5.20%  -3.80% -3.40%  
                   
  03/16 Building Permits 05:30 Feb 1200K 1167K 1202K 1204K  
                   
  03/16 Building Permits MoM 05:30 Feb -0.20% -3.10%   -0.20%   0.00%  
                   
  03/16 CPI MoM 05:30 Feb -0.20% -0.20%    0.00% -  
                   
  03/16 CPI YoY 05:30 Feb   0.90%   1.00%    1.40% -  
                   
  03/16 Industrial Production MoM 06:15 Feb   -0.30%  -0.50%     0.90% 0.80%  
                   
  03/16 Capacity Utilization 06:15 Feb     76.90%    76.70%     77.10% -  
                   
  03/17 Philadelphia Fed Business Outlook 05:30 Mar -1.50 - -2.80 -  
                   
  03/17 Initial Jobless Claims 05:30 12 Mar  - - - -  
                   
  03/17 Continuing Claims 05:30 5 Mar  - - - -  
                   
  03/17 Bloomberg Consumer Comfort 06:45 13 Mar  - - - -  
                   
  03/17 Leading Index 07:00 Feb  - -   -0.20% -  
                   
  03/18 U. of Mich. Sentiment 07:00 Mar P  - - 91.70 -  
                   
 
 
 
 
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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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