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Market Commentary


 
Today's Coupons
 
  10-Year Notes   98-05 (-04.5)  
 
  FN 3.5% Coupon   105-06 (+0.5)  
 
  Support   1.745%  
 
  Resistance   1.637%  
 
 
 
 
Wednesday, September 21, 2016
 
 
   The UST 10-Year yield is at 1.696% this morning after closing at 1.689% yesterday.
 
   This morning, the MBA released new mortgage applications data for the week of September 16th showing a large drop of 7.30%, after rising to 4.20% the week prior. The biggest drop was in applications for new purchase transactions which dropped to 6.80% from a rise of 8.60% the week prior. The average 30-Year fixed rate is now at 3.700% vs. 3.670% the week prior.
 
  In Central Bank news, the Bank of Japan released its decision to set a "yield curve control" by buying the necessary amount of long-term government bonds to keep the 10-year bond yields current levels of 0.00%.
 
  This afternoon, the much anticipated rate decision will be released as the Federal Open Market Committee concludes its two day meeting. Although the economy has had a sluggish year, economist have not ruled out the possibility of a rate hike today or in December.
 
   The curve has bear-flattened with the UST 10-Year 0.7 bp up 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 - -7.30% 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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