Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-04 (-07.5) 2.214%  
 
  FN 3.5% Coupon   104-04.5 (-00.5)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Wednesday, May 06, 2015
 
 
         MBA Mortgage Applications fell -4.6% last week following a -2.3% drop the week prior (+21.3% YoY). Purchases rose +0.8% after no growth the week prior (+12.3% YoY), Refinancing fell -8.3% vs. -3.7% prior (+30.8 YoY), and the average interest rate for a conventional conforming 30-Year mortgage rose to 3.93% from 3.85% prior (4.43% a year ago). ADP continued for the second consecutive month to indicate slowing job creation, posting below 200K at 169K (consensus 200K). The April ADP increase follows a downward March revision from 189K to 175K. The weakness in today’s report may cast its shadow on this Friday’s Nonfarm Payrolls (consensus 230K vs. 126K prior). Treasuries are slightly lower than yesterday’s 2:00 PM (PT) close levels following the disappointing ADP release and the curve has bear steepened with 2s10s up +2.1 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/04 Factory Orders 07:00 Mar 2.00% 2.10% 0.20% -0.10%  
                   
  05/05 Trade Balance 05:30 Mar -$41.70 Bn -$51.40 Bn -$35.40 Bn -$35.90 BN  
                   
  05/05 Markit US Composite PMI 06:45 Apr F - 57.00 57.40 -  
                   
  05/05 Markit US Services PMI 06:45 Apr F 57.80 57.40 57.80 -  
                   
  05/06 MBA Mortgage Applications 04:00 May 1 - -4.60% -2.30% -  
                   
  05/06 ADP Employment Change 05:15 Apr 200K 169K 189K 175K  
                   
  05/07 Initial Jobless Claims 05:30 May 2 279K - 262K -  
                   
  05/07 Continuing Claims 05:30 Apr 25 2270K - 2253K -  
                   
  05/08 Nonfarm Payrolls 05:30 Apr 230K - 126K -  
                   
  05/08 Unemployment Rate 05:30 Apr 5.40% - 5.50% -  
                   
  05/08 Labor Force Participation Rate 05:30 Apr - - 62.70% -  
                   
  05/08 Wholesale Inventories MoM 07:00 Mar 0.30% - 0.30% -  
                   
  05/08 Wholesale Trade Sales MoM 07:00 Mar 0.50% - -0.20% -  
                   
 
 
 
NEED ASSISTANCE? PLEASE CALL:
(844) SECONDARY
(844) 732-6632
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   Resolve Loan Conditions  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  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  
 
©2015 Sun West Mortgage Company, Inc. All Rights Reserved