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Market Commentary

Market Commentary

July 23, 2014
10-YEAR NOTES   100-13 (+03)
FN 3.5% COUPON   102-21 (+03)
SUPPORT   2.800%
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MBA Mortgage Applications advanced +2.4%, for the week ending July 18th, following a -3.6% drop the prior week (-31.3% YoY). Purchases edged up +0.3% after plummeting -7.6% in the prior week (-15.1% YoY), and Refinancing rose +4.1% vs. -0.1% prior (-40.8% YoY). The average rate for a conforming 30-Year loan remained flat at 4.33%. Treasuries continue to flirt with resistance levels as the flight to quality continues and the curve is opening flat to yesterday’s 2:00 PM PDT close.

This Week's Events:

07/23 04:00 July 18 - 2.4% -3.6% -
07/24 Jobless Claims 05:30 July 19 307K - 302K -
07/24 Markit PMI 06:45 July P 57.5 - 57.3 -
07/24 New Home Sales 07:00 June 475K - 504K -
07/24 New Home Sales MoM 07:00 June -5.8% - 18.6% -
07/24 08:00 July 6 - 6 -
07/25 Durable Goods Order 05:30 June 0.5% - -1.0% -0.9%



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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.