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Market Commentary

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Market Commentary


Wednesday
October 08, 2014
10-YEAR NOTES   100-07 (+06.5) 2.350%
FN 3.5% COUPON   103-07 (+02)
SUPPORT   2.660%
RESISTANCE   2.200%
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MBA Mortgage Applications rose +3.8% (-23.2% YoY) for the week ending October 3rd following a -0.2% decline the week prior. Purchases rose +2.4% vs. +0.0% prior (-7.9% YoY) and Refinancing advanced +5.0% vs. -0.3% prior (-31.9% YoY). Today at 11:00 AM (PDT) the Fed releases minutes from the September 16-17 FOMC meeting. Treasuries advanced yesterday forcing 10-Year yields to a one-month low following the IMF’s updated growth projections. The IMF lowered their growth outlook from the 4% July forecast to 3.8% fueling demand for safe haven assets. The curve has bull steepened with 2s10s up +0.4 bps.

This Week's Events:

DATE EVENTS TIME (PDT) PERIOD SURVEY ACTUAL PRIOR REVISED
10/08 MBA Mortgage Applications 04:00 October 3 - 3.8% -0.2% -
10/08 FOMC Minutes 11:00 September 16-17 - - - -
10/09 Initial Jobless Claims 05:30 October 4 295K - 287K -
10/09 Continuing Claims 05:30 September 27 2410K - 2398K -
10/09 Wholesale Inventories MoM 07:00 August 0.3% - 0.1% -
10/09 Wholesale Trade Sales MoM 07:00 August 0.3% - 0.7% -
10/10 Import Price Index MoM 05:30 September -0.7% - -0.9% -
10/10 Import Price Index YoY 05:30 September -1.4% - -0.4% -
10/10 Monthly Budget Statement 10/17 September $75.0 Billion - $75.1 Billion -

 

 

 
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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.