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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-20 (-09) 2.282%  
 
  FN 3.5% Coupon   103-08 (-07)  
 
  Support   2.480%  
 
  Resistance   2.190%  
 
 
 
 
Today's Blurb Wednesday, July 29, 2015
 
 
       MBA Mortgage Applications for the week ended July 24th, rose +0.8% following a +0.1% advance in the week prior (+11.4% YoY). Purchases edged down -0.1% vs. +1.0% prior (+17.5% YoY), Refinancing rose +1.6% vs. -0.5% prior (+6.0% YoY), and the average interest rate for a Conventional Conforming 30-Year loan fell from 4.23% to 4.17% (4.33% a year ago). Treasuries continue to decline for the second consecutive day as investors await the FOMC decision in anticipation of clues as to the timing of interest rate hikes. In Janet Yellen’s latest statement she was clear that her goal, given the supporting economic data, is to lift interest rates later this year. With September quickly approaching, and a slew of recent mixed economic data, the big question is whether Janet Yellen sees a hike in September, December, or if it will get pushed into 2016. The curve has bear steepened with 2s10s up +0.1 bps.
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  07/27 Durable Goods Orders 05:30 June 3.20% 3.40% -1.80% -2.10%  
                   
  07/28 S&P/Case-Shiller US HPI  MoM 06:00 May - 0.04% -0.02% 0.03%  
                   
  07/28 S&P/Case-Shiller US HPI  YoY 06:00 May 4.50% 4.39% 4.23% 4.30%  
                   
  07/28 Markit US Composite PMI 06:45 July P - 55.20 54.60 -  
                   
  07/28 Markit US Services PMI 06:45 July P 55.00 55.20 54.80 -  
                   
  07/29 MBA Mortgage Applications 04:00 July 24 - 0.80% 0.10% -  
                   
  07/29 Pending Home Sales MoM 07:00 June 0.90% -1.80% 0.90% 0.60%  
                   
  07/29 Pending Home Sales  YoY 07:00 June 11.10% 11.10% 8.30% 7.90%  
                   
  07/29 FOMC Rate Decision (Upper Limit) 11:00 July 29 0.25% - 0.25% -  
                   
  07/30 GDP Annualized QoQ 05:30 2Q A 2.50% - -0.20% -  
                   
  07/30 Initial Jobless Claims 05:30 July 25 270K - 255K -  
                   
  07/30 Continuing Claims 05:30 July 18 2205K - 2207K -  
                   
  07/31 ISM Milwaukee 06:00 July 50.00 - 46.55 -  
                   
 
 
 
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(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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