Jobless Claims rose last week to 311K vs. 289K prior (consensus 295K), the highest level in six weeks. Continuing Claims, for the week ending August 2nd, rose to 2544K vs. 2518K prior (consensus 2507K). Import Prices declined -0.2% following two straight months of rising prices (+0.8% YoY). The July Import Price decrease was fueled by falling gas prices which fell -1.2% vs. +1.0% prior. Exports were flat in July, following a -0.4% decrease in June. Treasuriesrallied after the larger than expected initial and continuing claims data, pushing the 10-Year below current resistance to 2.392%. MBS has widened 1-2 ticks (underperform) and the curve has bull flattened with 2s10s down 1.7 bps.
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.