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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-24 (-01) 2.266%  
 
  FN 3.5% Coupon   103-28.5 (-00.5)  
 
  Support   2.400%  
 
  Resistance   1.620%  
 
 
 
 
Today's Blurb Wednesday, May 20, 2015
 
 
        MBA Mortgage Applications, for the week ended May 15th, fell -1.5% vs. -3.5% prior (+11.2% YoY). Purchases fell -3.7% vs. -0.2% prior (+11.3% YoY), Refinancing rose +0.3% vs. -5.9% prior (+11.2% YoY), and the average interest rate for a conforming conventional loan rose +4 bps to 4.04% vs. 4.00% prior (4.33% a year ago). We watch for Existing Home Sales on tomorrow's calendar for further housing market indications. Treasuries are higher on the day ahead of the FOMC minutes with yield on the 10-Year note hovering just above 2.25%. The curve has bull steepened with 2s10s up +0.5 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  05/18 No Data - - - - - -  
                   
  05/19 Housing Starts 05:30 Apr 1015K 1135K 926K 944K  
                   
  05/19 Housing Starts MoM 05:30 Apr 9.60% 20.20% 2.00% 4.90%  
                   
  05/19 Building Permits 05:30 Apr 1064K 1143K 1039K 1038K  
                   
  05/19 Building Permits MoM 05:30 Apr 2.10% 10.10% -5.70% -5.50%  
                   
  05/20 MBA Mortgage Applications 04:00 May 15 - -1.50% -3.50% -  
                   
  05/20 FOMC Minutes 11:00 - - - - -  
                   
  05/21 Initial Jobless Claims 05:30 May 16 270K - 264K -  
                   
  05/21 Continuing Claims 05:30 May 9 2231K - 2229K -  
                   
  05/21 Markit US Manufacturing PMI 06:45 May P 54.50 - 54.10 -  
                   
  05/21 Existing Home Sales 07:00 Apr 5.23 MM - 5.19 MM -  
                   
  05/21 Existing Home Sales MoM 07:00 Apr 0.80% - 6.10% -  
                   
  05/22 CPI MoM 05:30 Apr 0.10% - 0.20% -  
                   
  05/22 CPI YoY 05:30 Apr -0.20% - -0.10% -  
                   
 
 
 
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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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