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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-07 (-14) 1.821%  
 
  FN 3.5% Coupon   104-16 (-04)  
 
  Support   1.890%  
 
  Resistance   1.640%  
 
 
 
 
Today's Blurb Wednesday, May 18, 2016
 
 
           MBA Mortgage Applications fell 1.60% last week following a 0.40% advance the week prior (+18.40% YoY). Purchases fell 5.80% vs. +0.40% prior (+11.70% YoY), Refinancing rose 1.40% vs. +0.50% prior (+24.40% YoY), and the average interest rate for a 30-Year Conventional Conforming loan held at 3.820% for the second consecutive week (4.040% a year ago). The FOMC will release the minutes from their April meeting later today at 11:00 AM (PT) and expectations are for them to signal that a summer hike is still on the table. Treasuries continue their decline this morning as traders boost their odds that the Fed may move in June, and the curve continues to flatten as 2-Year treasuries climbed to 0.85% (highest since April 27th) and the 10-Year increased to 1.817% pushing the 2s10s 2.5 bps flatter to 94.1. 
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/16 Empire Manufacturing 05:30 May 6.50 -9.02 9.56 -  
                   
  05/16 NAHB Housing Market Index 07:00 May 59.00 58.00 58.00 -  
                   
  05/17 Housing Starts 05:30 Apr 1125K 1172K 1089K 1099K  
                   
  05/17 Housing Starts MoM 05:30 Apr   3.30%   6.60%   -8.80% -9.40%  
                   
  05/17 Building Permits 05:30 Apr 1135K 1116K 1086K 1077K  
                   
  05/17 Building Permits MoM 05:30 Apr   5.50%  3.60%   -7.70% -7.30%  
                   
  05/17 CPI MoM 05:30 Apr   0.30%   0.40%    0.10% -  
                   
  05/17 CPI YoY 05:30 Apr   1.10%   1.10%    0.90% -  
                   
  05/17 Real Avg Weekly Earnings YoY 05:30 Apr -   1.30%    1.10% -  
                   
  05/17 Industrial Production MoM 06:15 Apr 0.30%    0.70% -0.60% -0.90%  
                   
  05/17 Capacity Utilization 06:15 Apr 75.00%     75.40%    74.80% 74.90%  
                   
  05/18 MBA Mortgage Applications 04:00 13 May -   -1.60%    0.40% -  
                   
  05/18 FOMC Meeting Minutes 11:00 27 Apr - - - -  
                   
  05/19 Chicago Fed Nat Activity Index 05:30 Apr -0.20 - -0.44 -  
                   
  05/19 Initial Jobless Claims 05:30 14 May 275K - 294K -  
                   
  05/19 Continuing Claims 05:30 7 May 2158K - 2161K -  
                   
  05/19 Philadelphia Fed Business Outlook 05:30 May 3.00 - -1.60 -  
                   
  05/19 Bloomberg Consumer Comfort 06:45 15 May - - 41.70 -  
                   
  05/20 Existing Home Sales 07:00 Apr 5.40 M - 5.33 M -  
                   
  05/20 Existing Home Sales MoM 07:00 Apr 1.30% - 5.10% -  
                   
 
 
 
 
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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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