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Market Commentary

Market Commentary

July 09, 2014
10-YEAR NOTES   99-12 (-01)
FN 3.5% COUPON   102-06.5 (-04.5)
SUPPORT   2.800%
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MBA Mortgage Applications picked up in the July 4th week rising +1.9% following three consecutive weeks of decline. Purchases jumped +3.7% vs. -0.7% prior and refinancing edged up +0.4% vs. +0.1% prior. The average rate for a 30-Year conforming mortgage increased +4 bps to 4.32%, in line with the 4-week average. At 11:00 AM (PDT) the Fed will release the Minutes from the June 17-18th FOMC meeting. The curve is opening flat to yesterday’s close.

There is a $21 Billion 10-Year note Auction at 10:00 AM (PDT).

This Week's Events:

07/09 MBA Mortgage Applications 04:00 July 4 - 1.9% -0.2% -
07/10 Initial Jobless Claims 05:30 July 5 315K - 315K -
07/10 Wholesale Trade Sales MoM 07:00 May 0.9% - 1.3% -
07/11 Treasury Budget 11:00 June $79.5 Billion - - -



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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.