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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-06 (+0.5)  
 
  FN 3.5% Coupon   105-07.5 (-01)  
 
  Support   1.745%  
 
  Resistance   1.592%  
 
 
 
 
Monday, September 19, 2016
 
 
    The UST 10-Year yield is at 1.687% this morning after closing at 1.693% Friday.
 
    Last week's volatility in the market continues this morning in anticipation of the FOMC's meeting, Sept 20-21st, to discuss the penultimate chance to increase of interest rates in 2016.
 
  The National Association of Home Builders (NAHB) Housing Market Index was released this morning, the gauge came in higher than expected at 65.00, up 6.00 from August. The gauge for perspective buyers increased to 48.00, the highest since November 2015, and the 6-month sales sentiment rose to 71.00, matching an 11 month high since 2015. Economists expect housing to be a secondary or tertiary driver of growth in 2017.
 
    The curve has bull-flattened with the UST 10-Year 0.6 bp down from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  09/19 NAHB Housing Market Index 07:00 Sep 60.00 65.00 60.00 59.00  
                   
  09/20 Housing Starts 05:30 Aug 1190K - 1211K -  
                   
  09/20 Housing Starts MoM 05:30 Aug -1.70% - 2.10%    
                   
  09/20 Building Permits 05:30 Aug 1165K - 1152K 1144K  
                   
  09/20 Building Permits MoM 05:30 Aug 1.80% - -0.10% -0.80%  
                   
  09/21 MBA Mortgage Applications 04:00 16 Sep - - 4.20% -  
                   
  09/21 FOMC Rate Decision (Upper Bound) 11:00 21 Sep 0.50% - 0.50% -  
                   
  09/21 FOMC Rate Decision (Lower Bound) 11:00 21 Sep 0.25% - 0.25% -  
                   
  09/22 Initial Jobless Claims 05:30 17 Sep 260K - 260K -  
                   
  09/22 Continuing Claims 05:30 10 Sep 2143K - 2143K -  
                   
  09/22 FHFA House Price Index MoM 06:00 Jul 0.30% - 0.20% -  
                   
  09/22 Bloomberg Consumer Comfort 06:45 18 Sep - - 42.20 -  
                   
  09/22 Existing Home Sales 07:00 Aug 5.45 M - 5.39 M -  
                   
  09/22 Existing Home Sales MoM 07:00 Aug 1.10% - -3.20% -  
                   
  09/22 Leading Index 07:00 Aug 0.00% - 0.40% -  
                   
  09/22 Kansas City Fed Manf. Activity 08:00 Sep -3.00 - -4.00 -  
                   
  09/23 Markit US Manufacturing PMI 06:45 Sep P - - - -  
                   
 
 
 
 
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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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