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Market Commentary


 
Today's Coupons
 
  10-Year Notes   100-28.5 (-02) 1.900%  
 
  FN 3.5% Coupon   105-05 (+05.5)  
 
  Support   2.40%  
 
  Resistance   1.62%  
 
 
 
 
 
Today's Blurb Wednesday, April 08, 2015
 
 
      MBA Mortgage Applications rose +0.4% last week following a +4.6% gain the week prior (+29.7% YoY). Purchases rose +6.8% vs. +5.7% prior (+12.0% YoY), Refinancing fell -3.3% vs. +3.9% prior (+46.8% YoY), and the average interest rate for a conventional conforming loan fell -3 bps to 3.86% (4.56% a year ago). On March 18th the FOMC removed the “patient” clause from its forward guidance and effectively replaced it with “reasonably confident that inflation will move back to its 2 percent objective over the medium term”. We hope to get further insight in today’s FOMC statement release as to the necessary and sufficient conditions for being “reasonably confident” that inflation will advance over the medium term. The curve has bear flattened slightly with 2s10s down -0.1 bps and treasuries are hovering around yesterday’s closing levels.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  04/06 Markit US Manufacturing PMI 06:45 Mar F - 59.20 58.50 -  
  04/06 Markit US Services PMI 06:45 Mar F 58.60 59.20 58.60 -  
  04/07 JOLTS Job Openings 07:00 Feb 5007 5133 4998 4965  
  04/08 MBA Mortgage Applications 04:00 Apr 3 - 0.40% 4.60% -  
  04/08 FOMC Minutes 11:00 Mar 17-18 - - - -  
  04/09 Initial Jobless Claims 05:30 Apr 4 283K - 268K -  
  04/09 Continuing Claims 05:30 Mar 28 2350K - 2325K -  
  04/09 Wholesale Inventories MoM 07:00 Feb 0.20% - 0.30% 0.20%  
  04/09 Wholesale Trade Sales MoM 07:00 Feb 0.30% - -3.10% -3.30%  
  04/10 Import Price Index MoM 05:30 Mar -0.40% - 0.40% -  
  04/10 Import Price Index YoY 05:30 Mar -10.20% - -9.40% -  
 
 
 
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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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