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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-23.5(+06.5) 2.03%  
  FN 3.5% Coupon   104-13.5 (+02)  
  Support   2.40%  
 
  Resistance   1.62%  
 
 
 
 
 
Today's Blurb Wednesday, March 18, 2015
 
 
      MBA Mortgage Applications for the week ended March 13th fell -3.9% following a -1.3% dip the week prior. Purchases fell -1.5% vs. +1.9% prior, Refinancing declined -5.2% vs. -2.9% prior, and the average interest rate for a conforming 30-Year conventional loan fell from 4.01% to 3.99%. The big news for today will be the FOMC statement release, in which many believe the Fed could remove the “patient” clause in order to give the committee more freedom in determining when to hike rates. February Nonfarm Payroll numbers proved to be the strongest economic report thus far during the month of March, however, even with a strong headline number the labor force participation rate remained sluggish and wage growth turned negative. Treasuries are getting a boost this morning ahead of the statement release and the curve has bull flattened with 2s10s down -3.4 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/16 Empire Manufacturing 05:30 Mar 8.00 6.90 7.78 -  
                   
  03/16 Industrial Production MoM 06:15 Feb 0.20% 0.10% 0.20% -0.30%  
                   
  03/16 Capacity Utilization 06:15 Feb 79.50% 78.90% 79.40% 79.10%  
                   
  03/17 Housing Starts 05:30 Feb 1040K 897K 1065K 1081K  
                   
  03/17 Housing Starts MoM 05:30 Feb -2.40% -17.00% -2.00% 0.00%  
                   
  03/17 Building Permits 05:30 Feb 1065K 1092K 1053K 1060K  
                   
  03/17 Building Permits MoM 05:30 Feb 0.50% 3.00% -0.70% 0.00%  
                   
  03/18 MBA Mortgage Applications 04:00 Mar 13 - -3.90% -1.30% -  
                   
  03/18 FOMC Rate Decision (Upper Bound) 11:00 Mar 18 0.25% - 0.25% -  
                   
  03/18 FOMC Rate Decision (Lower Bound) 11:00 Mar 18 0.00% - 0.00% -  
                   
  03/19 Current Account Balance 05:30 4Q -$104.10 Bn - -$100.30 Bn -  
                   
  03/19 Jobless Claims 05:30 Mar 14 293K - 289K -  
                   
  03/19 Continuing Claims 05:30 Mar 7 2400K - 2418K -  
                   
  03/19 Leading Index 07:00 Feb 0.20% - 0.20% -  
                   
  03/20 No Data - - - - - -  
                   
 
 
 
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(844) SECONDARY
(844) 732-6632
 
 
 
 
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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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