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Market Commentary

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Market Commentary


Wednesday
August 27, 2014
10-YEAR NOTES   100-01 (+05.5)
2.373%
FN 3.5% COUPON   102-25 (+03.5)
SUPPORT   2.660%
RESISTANCE   2.200%
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MBA Mortgage Applications rose 2.8%, for the week ending August 22nd, following the prior week’s +1.4% advance. Purchases were up +2.6% vs. -0.4% prior (-10.6% YoY) and Refinancing, reversed the prior week’s losses of -0.4%, posted +2.8% (-25.4% YoY). The average interest rate for a 30-Year conforming loan declined -1 bps to 4.28% vs. 4.29%. There is a $35 Billion 5-Year note Auction at 10:00 AM (PDT). Treasuries are opening up this morning and the curve has bull flattened with 2s10s down -0.5 bps.

This Week's Events:

DATE EVENTS TIME (PDT) PERIOD SURVEY ACTUAL PRIOR REVISED
08/27 MBA Mortgage Applications 04:00 August 22 - 2.8% 1.4% -
08/28 Jobless Claims 05:30 August 23 300 K - 298 K -
08/28 GDP Annualized QoQ 05:30 2Q S 3.9% - 4.0% -
08/28 Continuing Claims 05:30 August 16 2510 K - 2500 K -
08/28 Personal Consumption 05:30 2Q S 2.4% - 2.5% -
08/28 Pending Home Sales MoM 07:00 July 0.5% - -1.1% -
08/28 Pending Home Sales YoY 07:00 July -3.9% - -4.5% -
08/28 Kansas City Fed 08:00 August 7 - 9 -
08/29 Personal Income 05:30 July 0.3% - 0.4% -
08/29 Personal Spending 05:30 July 0.2% - 0.4% -

 

 

 
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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.