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Market Commentary


 
Today's Coupons
 
  10-Year Notes   97-16 (-00.5) 2.283%  
 
  FN 3.5% Coupon   103-08.5 (+00.5)  
 
  Support   2.270%  
 
  Resistance   2.040%  
 
 
 
 
Today's Blurb Wednesday, September 16, 2015
 
 
       MBA Mortgage Applications fell 7.00% last week following a 6.20% decline in the week prior. Purchases fell -4.20% vs. -0.90% prior (+4.60% YoY), Refinancing fell -9.10% vs. -9.90% prior (+0.50% YoY), and the average interest rate for conventional conforming 30 year loan fell 1 bps from 4.10% to 4.09%. The Consumer Price Index (CPI) fell by 0.10% in August for the first month-over-month decline since January. Energy prices declined by 2.00%, the cost of a gallon of gas fell by 8.00%, and food prices rose by 0.20%. Excluding food and energy, the Core CPI rose by 0.10% in August. CPI is up 0.20% annually. Today the Federal Reserve begins their meeting to discuss the direction of short term interest rates and tomorrow they will use the current economic data and their economic projections to determine the need for a September hike. Treasuries are hovering near yesterday's 2:00 PM (PT) Close following the data release and the curve has bull flattened with 2s10s down 0.6 bps
 
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/14 No Data - - - - - -  
                   
  09/15 Retail Sales Advance MoM 05:30 Aug 0.30% 0.20% 0.60% 0.70%  
                   
  09/15 Retail Sales Ex Auto MoM 05:30 Aug 0.20% 0.10% 0.40% 0.60%  
                   
  09/15 Empire Manufacturing 05:30 Sep -0.50 -14.67 -14.92 -  
                   
  09/15 Industrial Production MoM 06:15 Aug -0.20% -0.40% 0.60% 0.90%  
                   
  09/15 Business Inventories 07:00 Jul 0.10% 0.10% 0.80% 0.70%  
                   
  09/16 MBA Mortgage Applications 04:00 Sep 11 - -7.00% -6.20% -  
                   
  09/16 CPI MoM 05:30 Aug -0.10% -0.10% 0.10% -  
                   
  09/16 CPI YoY 05:30 Aug 0.20% 0.20% 0.20% -  
                   
  09/16 NAHB Housing Market Index 07:00 Sep 61.00 62.00 61.00 -  
                   
  09/17 Current Account Balance 05:30 2Q -$111.50 B - -$113.30 B -  
                   
  09/17 Housing Starts 05:30 Aug 1160K - 1206K -  
                   
  09/17 Housing Starts MoM 05:30 Aug -3.80% - 0.20% -  
                   
  09/17 Building Permits 05:30 Aug 1159K - 1119K 1130K  
                   
  09/17 Building Permits MoM 05:30 Aug 2.50% - -16.30% -15.50%  
                   
  09/17 Initial Jobless Claims 05:30 Sep 12 275K - 275K -  
                   
  09/17 Continuing Claims 05:30 Sep 5 2258K - 2260K -  
                   
  09/17 Bloomberg Consumer Comfort 06:45 Sep 13 - - 41.40 -  
                   
  09/17 Philadelphia Fed Business Outlook 07:00 Sep 5.90 - 8.30 -  
                   
  09/17 FOMC Rate Decision (Upper Bound) 11:00 Sep 17 0.25% - 0.25% -  
                   
  09/17 FOMC Rate Decision (Lower Bound) 11:00 Sep 17 0.00% - 0.00% -  
                   
  09/18 Leading Index 07:00 Aug 0.20% - -0.20% -  
                   
 
 
 
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  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  
 
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