Treasuries are slightly higher across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.816% after closing at 2.831% prior.
Treasuriesinched higher overnight on political headlines after President Trump's former personal attorney Cohen pleaded guilty to violating campaign finance laws and admitted to doing so at the direction of the president. Cohen also reportedly has “knowledge” about computer hacking and collusion that he is willing to share with Special Counsel Mueller pertaining to his ongoing investigation of the Russian meddling in the 2016 election. U.S. equity futures fell while stocks were mixed as investors gauge the latest legal woes of Trump's presidency.
MBA Mortgage Applications jumped 4.20% in activities for the week ended August 17 following a 2.00% drop the week prior which marks its first increase in applications since July 6. Purchase applications rose 2.90% after dropping 3.30% the week prior, while refinancing activities increased 6.00% after being unchanged the week prior. We also received the July Existing Home Sales which fell 0.70% MoM to 5.34m unit rate following a drop of 0.60% to 5.38m unit rate prior. Later today at 11:00 AM (PT), the Fed's latest FOMC Minutes will be available and is expected to provide an indication of whether or not another rate hike will be announced in September.
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
Treasuries inched higher overnight on political headlines after President Trump's former personal attorney Cohen pleaded guilty to violating campaign finance laws and admitted to doing so at the direction of the president. Cohen also reportedly has “knowledge” about computer hacking and collusion that he is willing to share with Special Counsel Mueller pertaining to his ongoing investigation of the Russian meddling in the 2016 election. U.S. equity futures fell while stocks were mixed as investors gauge the latest legal woes of Trump's presidency.
MBA Mortgage Applications jumped 4.20% in activities for the week ended August 17 following a 2.00% drop the week prior which marks its first increase in applications since July 6. Purchase applications rose 2.90% after dropping 3.30% the week prior, while refinancing activities increased 6.00% after being unchanged the week prior. We also received the July Existing Home Sales which fell 0.70% MoM to 5.34m unit rate following a drop of 0.60% to 5.38m unit rate prior. Later today at 11:00 AM (PT), the Fed's latest FOMC Minutes will be available and is expected to provide an indication of whether or not another rate hike will be announced in September.
The curve has bull-flattened with the UST 10-Year yield down 1.5 bps from prior closing.