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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   101-01 (-01) 1.885%  
  FN 3.5% Coupon   105-04.5 (+00.5)  
  Support   2.40%  
 
  Resistance   1.62%  
 
 
 
 
 
Today's Blurb Wednesday, March 25, 2015
 
 
     MBA Mortgage applications rose +9.5% last week, following a -3.9% dip the week prior. Purchases rose +4.9% vs. -1.5% prior, Refinancing rose +12.3% vs. -5.2% prior, and the average interest rate for a conventional conforming loan declined -9 bps to 3.90%. Durable Goods Orders in February disappointed market expectations, down -1.4% (consensus +0.2%), and January's reading was revised down from 2.8% to 2.0%. The headline Durable Goods number primarily reflects weakness in Boeing orders, as nondefense aircraft orders declined -8.9%. Capital Goods Orders nondefense ex-aircraft fell -1.4%, and Transportation Orders declined -3.5% following a +8.8% increase in January. Treasuries got a boost this morning following the Durable Goods data miss, pushing yield on the 10-Year note further below the 2% mark. The curve has bull steepened with 2s10s up +0.7 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  03/23 Existing Home Sales 07:00 Mar 4.90 MM 4.88 MM 4.82 MM -  
                   
  03/23 Existing Home Sales MoM 07:00 Feb 1.70% 1.20% -4.90% -  
                   
  03/24 CPI MoM 05:30 Feb 0.20% 0.20% -0.70% -  
                   
  03/24 CPI YoY 05:30 Feb -0.10% 0.00% -0.10% -  
                   
  03/24 FHFA House Price Index MoM 06:00 Jan 0.50% 0.30% 0.80% 0.70%  
                   
  03/24 Markit US Manufacturing PMI 06:45 Mar P 54.60 55.30 55.10 -  
                   
  03/24 New Home Sales 07:00 Feb 464K 539K 481K 500K  
                   
  03/24 New Home Sales MoM 07:00 Feb -3.50% 7.80% -0.20% 4.40%  
                   
  03/25 MBA Mortgage Applications 04:00 Mar 20 - 9.50% -3.90% -  
                   
  03/25 Durable Goods Orders 05:30 Feb 0.20% -1.40% 2.80% 2.00%  
                   
  03/26 Jobless Claims 05:30 Mar 21 290K - 291K -  
                   
  03/26 Continuing Claims 05:30 Mar 14 2400K - 2417K -  
                   
  03/26 Markit US Composite PMI 06:45 Mar P - - 57.20 -  
                   
  03/26 Markit US Services PMI 06:45 Mar P 57.00 - 57.10 -  
                   
  03/27 GDP Annualized QoQ 05:30 4Q T 2.40% - 2.20% -  
                   
  03/27 Personal Consumption 05:30 4Q T 4.40% - 4.20% -  
                   
 
 
 
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(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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