Back to top

Market Commentary

Market Commentary

September 10, 2014
10-YEAR NOTES   98-20 (-08) 2.532%
FN 3.5% COUPON   101-28.5 (-03.5)
SUPPORT   2.660%
Scan with your

MBA Mortgage Applications declined -7.2% (-14.9% YoY), the largest decline this month, following the prior week’s gain of +0.2%. Purchases fell -2.6% vs. -1.5% prior (-11.7% YoY) and Refinancing slumped -10.7% vs. +1.4% prior (-17.2% YoY). The average rate for a 30-Year conforming loan increased +2 bps to 4.27%. June Wholesale inventories rose +0.3% with a +0.2% gain in sales, leaving the stock-to-sales ratio unchanged at 1.17. Consensus for July Wholesale inventories is for a +0.5% advance and for a +0.6% advance in sales. Treasuries continue to slide pushing 10-Year yields to the highest levels seen in 3 months on speculation that the Fed will raise rates sooner than expected. The curve has bear steepened with 2s10s up +2.2 bps.

This Week's Events:

09/10 MBA Mortgage Applications 04:00 September 5 - 7.2% 0.2% -
09/10 Wholesale Trade Inventories 07:00 July 0.5% - 0.3% -
09/11 Jobless Claims 05:30 September 6 300K - 302K -
09/11 Continuing Claims 05:30 August 30 2490K - 2464K -
09/12 Retail Sales Advance MoM 05:30 August 0.6% - 0.0% -
09/12 Import Price Index MoM 05:30 August -1.0% - -0.2% -
09/12 Import Price Index YoY 05:30 August -0.4% - 0.8% -
09/12 University of Michigan Confidence 06:55 September P 83.3 - 82.5 -



Visit Us Online

Get Approved

Download Rate Sheet

Price & Lock

Submit Loan

Resolve Loan Conditions

Conventional Program Guidelines

Government Program Guidelines
For more information, please call:

FHA Programs
VA Programs
USDA Rural Housing
HECM Reverse Mortgage
Conforming Products
FHA Multifamily, PowerSaver

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.