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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-01.5 (-24.5) 2.347%  
 
  FN 3.5% Coupon   103-02 (-12)  
 
  Support   2.510%  
 
  Resistance   2.240%  
 
 
 
 
Today's Blurb Monday, June 22, 2015
 
 
         Early on this week we get data on Housing and Manufacturing with today’s Existing Home Sales and tomorrow’s Durable Goods print. On Wednesday the third estimate for 1Q GDP is expected to regains some ground with consensus at -0.2% vs. -0.7% prior with no change expected in the Core. Thursday ends this week’s data releases with consumer indications on Personal Income and Spending. Existing Home Sales jumped +5.1% in May for the fastest MoM growth since November 2009. May’s surge in Home Sales was driven by a jump in first time home buyers with accounted for 32% of all purchases, up from 27% a year ago. The increase in first time home buyers indicates that the current low rates and promise of hikes in the future are putting pressure on new borrowers to get their loans completed quickly. Treasuries grinded lower on the hotter than expected Existing Home Sales data and the curve has bear steepened with 2s10s up +5.2 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  06/22 Existing Home Sales 07:00 May 5.26 MM 5.35 MM 5.04 MM 5.09 MM  
                   
  06/22 Existing Home Sales MoM 07:00 May 4.40% 5.10% -3.30% -2.30%  
                   
  06/23 Durable Goods Orders 05:30 May -0.90% - -0.50% -1.00%  
                   
  06/23 FHFA House Price Index MoM 06:00 Apr 0.50% - 0.30% -  
                   
  06/23 New Home Sales 07:00 May 523K - 517K -  
                   
  06/23 New Home Sales MoM 07:00 May 1.10% - 6.80% -  
                   
  06/24 MBA Mortgage Applications 04:00 Jun 19 - - -5.50% -  
                   
  06/24 GDP Annualized QoQ 05:30 1Q T -0.20% - -0.70% -  
                   
  06/24 Personal Consumption 05:30 1Q T 1.90% - 1.80% -  
                   
  06/25 Personal Income 05:30 May 0.50% - 0.40% -  
                   
  06/25 Personal Spending 05:30 May 0.70% - 0.00% -  
                   
  06/25 Initial Jobless Claims 05:30 Jun 20 273K - 267K -  
                   
  06/25 Continuing Claims 05:30 June 13 2218K - 2222K -  
                   
  06/25 PCE Core MoM 05:30 May 0.10% - 0.10% -  
                   
  06/25 PCE Core YoY 05:30 May 1.20% - 1.20% -  
                   
  06/26 No Data - - - - - -  
                   
 
 
 
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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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