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Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-29 (+12.5) 2.010%  
 
  FN 3.5% Coupon   104-15(+08)  
 
  Support   2.250%  
 
  Resistance   2.010%  
 
 
 
 
Today's Blurb Wednesday, October 14, 2015
 
 
       MBA Mortgage Applications fell 27.60% last week after rising 25.50% the week prior. Purchases declined 34.10% following a 27.40% rise prior, Refinancing fell 22.50% following a 24.20% rise prior, and the average interest rate for a 30-Year Conventional Conforming loan held for the second consecutive week at 3.990%. The Producer Price Index (PPI) for September fell 0.50%, for the largest drop since January, following no change in August. Energy expenses decreased 5.90% following a 3.30% decline prior, and Food prices dropped 0.80% following a 0.30% gain prior. Excluding Food and Energy PPI fell 0.30%. Retail Sales rose 0.10% in September following no change in August. Excluding vehicles, Retail Sales fell 0.30%. The Fed delayed raising rates in their September meeting citing global growth concerns and financial market volatility, and adding that inflation continues below their long-run goal. The disappointing reading in PPI today poses a challenge for Fed policy makers who are looking for signs of rising inflation to lift the benchmark interest rate. The next Fed meeting is in two weeks. Treasuries rose on the disappointing data, pushing the 10-Year note as low as 2.00% and the curve has steepened with 2s10s up 1.6 bps.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  10/12 No Data - - - - - -  
                   
  10/13 No Data - - - - - -  
                   
  10/14 MBA Mortgage Applications 04:00 Oct 9 - -27.60% 25.50% -  
                   
  10/14 Retail Sales Advance MoM 05:30 Sep 0.20% 0.10% 0.20% 0.00%  
                   
  10/14 Retail Sales Ex Auto MoM 05:30 Sep -0.10% -0.30% 0.10% -0.10%  
                   
  10/14 PPI Final Demand MoM 05:30 Sep -0.20% -0.50% 0.00% -  
                   
  10/14 PPI Final Demand YoY 05:30 Sep -0.80% -1.10% -0.80% -  
                   
  10/14 Fed Reserve Releases Beige Book 11:00 - - - - -  
                   
  10/15 Initial Jobless Claims 05:30 Oct 10 270K - 263K -  
                   
  10/15 Continuing Claims 05:30 Oct 3 2200K - 2204K -  
                   
  10/15 Empire Manufacturing 05:30 Oct  -8.00 - -14.67 -  
                   
  10/15 CPI MoM 05:30 Sep -0.20% - -0.10% -  
                   
  10/15 CPI YoY 05:30 Sep -0.10% - 0.20% -  
                   
  10/15 CPI Index NSA 05:30 Sep 237.800 - 238.316 -  
                   
  10/15 CPI Core Index SA 05:30 Sep 243.022 - 242.693 -  
                   
  10/15 Philadelphia Fed Business Outlook 07:00 Oct -2.00 - -6.00 -  
                   
  10/16 Industrial Production MoM 06:15 Sep -0.20% - -0.40% -  
                   
  10/16 Capacity Utilization 06:15 Sep 77.30% - 77.60% -  
                   
  10/16 U. of Mich. Sentiment 07:00 Oct P 89.00 - 87.20 -  
                   
 
 
 
 
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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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