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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-13.5 (+07)  
 
  FN 3.5% Coupon   105-07.5 (+01)  
 
  Support   1.745%  
 
  Resistance   1.637%  
 
 
 
 
Tuesday, September 20, 2016
 
 
    The UST 10-Year yield is at 1.682% this morning after closing at 1.712% yesterday.
 
    After two months of solid increases, new U.S home constructions fell by 70K from last month and fell short from consensus by 48K, coming in at 1142K. A large part of this decline was for the South region of the US, the biggest region for building which showed a 14.80% decline, the steepest since October 2015. The Department of Commerce reported that residential starts fell by 5.80% from the revised 1212K in July, however, still stronger by 0.90% from August 2015.
 
    Building Permits issued for privately owned homes fell by 0.40% to 1139K from the revised July data of 1144K, however, permits issued for single family residences, which makes up about 60% of all permits; increased by 3.70%, the largest gain since June 2014.
 
    The curve has bull-flattened with the UST 10-Year 3 bps 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 1142K 1211K 1212K  
                   
  09/20 Housing Starts MoM 05:30 Aug -1.70% -5.80% 2.10% 1.40%  
                   
  09/20 Building Permits 05:30 Aug 1165K 1139K 1152K 1144K  
                   
  09/20 Building Permits MoM 05:30 Aug 1.80% -0.40% -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 261K - 260K -  
                   
  09/22 Continuing Claims 05:30 10 Sep 2141K - 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 52.00 - 52.00 -  
                   
 
 
 
 
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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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