Back to top

Market Commentary

Home
Market Commentary


Tuesday
June 24, 2014
10-YEAR NOTES   99-05 (+07)
2.594%
FN 3.5% COUPON   102-10 (+2.5)
SUPPORT   2.800%
RESISTANCE   2.470%
Scan with your
Smartphone.
 
   

Home prices have lost some steam in April, according to the FHFA, coming in unchanged from March’s +0.7% gain (consensus +0.5). Five of the nine census regions showed price increases for April while the remaining four exhibited declining prices. The Case-Shiller also came in a bit sluggish and below expectations at +0.19% vs. +1.25% prior (consensus +0.8%). New home sales had a substantial bump in April posting +6.4% to a higher than expected 433K, and for May expectations are for the number to edge up +1.4% to 439K. The curve has bull flattened with 2s10s down 3 bps.

This Week's Events:

DATE EVENTS TIME (PDT) PERIOD SURVEY ACTUAL PRIOR REVISED
06/24 FHFA Home Price Index MoM 06:00 April 0.5% 0.0% 0.7% -
06/24 Richmond Fed 07:00 June 7 3 7 -
06/24 New Home Sales 07:00 May 439K 504K 433K 425K
06/24 New Home Sales MoM 07:00 May 1.4% 18.6% 6.4% 3.7%
06/25 MBA Mortgage Applications 04:00 June 20 - - -9.2% -
06/25 Durable Goods Orders 05:30 May  0.0% - 0.8% 0.6%
06/25 GDP QoQ 05:30 1Q T -1.8% - -1.0% -
06/25 Personal Consumption 05:30 1Q T 2.5% - 3.1% -
06/25 GDP Price Index 05:30 1Q T 1.3% - 1.3% -
06/25 Markit US Services PMI 06:45 June P 58.0 - 58.1 -
06/26 Initial Jobless Claims 05:30 June 21 310K - 312K -
06/26 Continuing Claims 05:30 June 14 2565K - 2561K -
06/26 Personal Income 05:30 May 0.4% - 0.3% -
06/26 Personal Spending 05:30 May 0.4% - -0.1% -

 

 

 
Visit Us Online

Get Approved

Download Rate Sheet

Price & Lock

Submit Loan

Resolve Loan Conditions

Conventional Program Guidelines

Government Program Guidelines
 
 
For more information, please call:
1-855-SWMC-AOT

FHA Programs
VA Programs
USDA Rural Housing
HECM Reverse Mortgage
Conforming Products
FHA Multifamily, PowerSaver

GNMA Issuer
Fannie Mae and Freddie Mac Direct Lender
Licensed throughout the U.S. and Puerto Rico
Privately Held Mortgage Bank for Over 32 Years
Excellent Underwriting / Funding Turn Times
 

This information is provided solely for informational use and is not intended as a trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not liscensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to 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, price, guidelines, fees, costs, terms and conditions are subject to change without notice.