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Market Commentary

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Market Commentary


Wednesday
August 20, 2014
10-YEAR NOTES   99-21.5 (-01)
2.412%
FN 3.5% COUPON   102-13 (-01.5)
SUPPORT   2.660%
RESISTANCE   2.200%
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MBA Mortgage Applications, for the week ending August 15th, rose +1.4% vs. -2.7% prior (-23.5 YoY). Purchases slipped -0.4% vs. -1.0% prior (-10.9 YoY) and Refinancing jumped +2.7% vs. -4.0% prior (-31.4% YoY). The average interest rate for a 30-Year conforming loan fell -6 bps to 4.29% vs. 4.35% prior. At 11:00 AM (PDT) the Fed will release the minutes from the July 29th-30th meeting. Treasuries are continuing the sell-off for a second day this morning and the curve has bear flattened with 2s10s down -1.8 bps.

This Week's Events:

DATE EVENT TIME (PDT) PERIOD SURVEY ACTUAL PRIOR REVISED
08/20 MBA Mortgage Applications 04:00 August 15 - 1.4% -2.7% -
08/20 FOMC Minutes 11:00 - - - - -
08/21 Jobless Claims 05:30 August 16 303 K - 311 K -
08/21 Continuing Claims 05:30 August 9 2520 K - 2544 K -
08/21 Markit Manufacturing PMI 06:45 August P 55.7 - 55.8 -
08/21 Philli Fed 07:00 August 19.5 - 23.9 -
08/21 Existing Home Sales 07:00 July 5.02 Million - 5.04 Million -
08/21 Existing Home Sales MoM 07:00 July -0.4% - 2.6% -
08/21 Leading Index 07:00 July 0.6% - 0.3% -
08/22 No Data - - - - - -

 

 

 
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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.