The UST10-Year yield is at 2.399% this morning after closing at 2.406% yesterday.
This morning, U.S. Treasuriesare rallying once again pushing yields lower for the fifth consecutive day.
In economic news, the Department of Labor reported that Initial Jobless Claims rose by 15K to 258K for the week ended March 18th, the highest level in 7 weeks. The jump was in part due to an increase in new claims in Ohio and Kansas, which rose by 4,260 and 2,774 respectively. Claims for those continuing to receive benefits dropped by 39K to 2 million in the week ended March 11th. The unemployment rate among those eligible for benefits dropped by 0.10% to 1.50%.
The Department of Commerce released New Home Sales data indicating a 6.10% rise to 592K for the month of February from the previously revised 558K. The 7-month high sales were led by an increase in demand of 30.90% in the Midwest. The median sales price was $296,200 and the average sales price was $390,400. Consumer Comfort Index rose to 51.30, the highest level in 16 years. The index rose 7 of the past 8 weeks, with the latest increase largely due to a rise in the buying climate index, which increased to 46.50 from 45.10, the highest since December 2001.
Later today, Fed Chair Janet Yellen will speak at the 10th Biennial Fed Reserve System Community Development Research Conference in Washington D.C.
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This morning, U.S. Treasuries are rallying once again pushing yields lower for the fifth consecutive day.
In economic news, the Department of Labor reported that Initial Jobless Claims rose by 15K to 258K for the week ended March 18th, the highest level in 7 weeks. The jump was in part due to an increase in new claims in Ohio and Kansas, which rose by 4,260 and 2,774 respectively. Claims for those continuing to receive benefits dropped by 39K to 2 million in the week ended March 11th. The unemployment rate among those eligible for benefits dropped by 0.10% to 1.50%.
The Department of Commerce released New Home Sales data indicating a 6.10% rise to 592K for the month of February from the previously revised 558K. The 7-month high sales were led by an increase in demand of 30.90% in the Midwest. The median sales price was $296,200 and the average sales price was $390,400. Consumer Comfort Index rose to 51.30, the highest level in 16 years. The index rose 7 of the past 8 weeks, with the latest increase largely due to a rise in the buying climate index, which increased to 46.50 from 45.10, the highest since December 2001.
Later today, Fed Chair Janet Yellen will speak at the 10th Biennial Fed Reserve System Community Development Research Conference in Washington D.C.
The curve has bull-flattened with the UST 10-Year 0.7 bp down from prior closing.