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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-16.5 (00) 2.409%  
 
  FN 3.5% Coupon   102-23 (+01.5)  
 
  Support   2.510%  
 
  Resistance   2.240%  
 
 
 
 
Today's Blurb Wednesday, June 24, 2015
 
 
    MBA Mortgage Applications rose +1.6% last week following a -5.5% dip prior (+10.9% YoY). Purchases rose +1.2% vs. -4.2% prior, Refinancing rose +1.8% vs. -6.9% prior and the average interest rate for a conventional conforming loan fell -3 bps from 4.22% to 4.19%. The U.S. Economy shrank less than previously estimated in the first quarter of 2015, according to the third estimate. GDP fell -0.2% (consensus -0.2%), up from the prior estimate of -0.7%. The decline in first Quarter GDP reflects negative contribution from Exports, nonresidential fixed investment, and state and local government spending which were partially offset by positive contributions from PCE, private inventory investment and, residential fixed investment. Personal Consumption printed higher than expected, up +2.1% (consensus +1.9%) vs. +1.8% prior.
        Greece fueled more volatility this morning in financial markets as their payment date inches closer to next week's deadline. Greece's Minister Alexis Tsipras admitted that some creditors did not accept the most recent proposals to unlock additional aid. Treasuries parred yesterday's losses as demand for haven assets returned amidst the renewed tensions in Greece in light of the proposal being rejected. The curve has bull flattened with 2s10s down -5 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 -1.00% -1.80% -0.50% -1.50%  
                   
  06/23 FHFA House Price Index MoM 06:00 Apr 0.50% 0.30% 0.30% -  
                   
  06/23 New Home Sales 07:00 May 523K 546K 517K 534K  
                   
  06/23 New Home Sales MoM 07:00 May 1.20% 2.20% 6.80% 8.10%  
                   
  06/24 MBA Mortgage Applications 04:00 Jun 19 - 1.60% -5.50% -  
                   
  06/24 GDP Annualized QoQ 05:30 1Q T -0.20% -0.20% -0.70% -  
                   
  06/24 Personal Consumption 05:30 1Q T 1.90% 2.10% 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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(844) SECONDARY
(844) 732-6632
 
 
 
 
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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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