Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   99-03 (+04.5)  
 
  FN 3.5% Coupon   102-20 (+02.5)  
 
  Support   2.472%  
 
  Resistance   2.271%  
 
 
 
 
Tuesday, November 21, 2017
 
 
Treasuries are marginally higher across the curve this morning from yesterday’s close. The UST 10-Year yield is currently at 2.375% after closing at 2.387% during the prior session.

The Chicago Fed National Activity Index rose in October to 0.65 versus an estimate of 0.20 and a revised level of 0.36 for September; suggesting an improvement in economic activity. The mark reflected the index’s highest level since January of 2012. We also received the October Existing Home Sales Index which reported 5.48 Million sales for the month, beating both estimates of 5.40 Million and its prior mark of 5.37 Million revised. Existing Home Sales reported a 2.00% month-over-month growth, against survey of 0.20% and a revised 0.40% during its prior period.

The economic calendar continues tomorrow with MBA Mortgage Applications, Jobless Claims, University of Michigan consumer sentiment and inflation, and the FOMC minutes from its October 31 / November 1 meeting. Fed Chair Yellen will speak today at NYU, a day after submitting her resignation letter as a member of the Board of Governors.

The curve has bull-flattened with the UST 10-Year yield down 1.2 bps from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  11/20 Leading Index 07:00 Oct 0.80% 1.20% -0.20% 0.10%  
                   
  11/21 Chicago Fed Nat Activity Index 05:30 Oct 0.20 0.65 0.17 0.36  
                   
  11/21 Existing Home Sales 07:00 Oct 5.40m 5.48m 5.39m 5.37m  
                   
  11/21 Existing Home Sales MoM 07:00 Oct 0.20% 2.00% 0.70% 0.40%  
                   
  11/22 MBA Mortgage Applications 04:00 17 Nov - - 3.10% -  
                   
  11/22 Initial Jobless Claims 05:30 18 Nov 240k - 249k -  
                   
  11/22 Continuing Claims 05:30 11 Nov 1880k - 1860k -  
                   
  11/22 Durable Goods Orders 05:30 Oct P 0.30% - 2.00% -  
                   
  11/22 Durables Ex Transportation 05:30 Oct P 0.50% - 0.70% -  
                   
  11/22 Bloomberg Consumer Comfort 06:45 19 Nov - - 52.10 -  
                   
  11/22 U. of Mich. Sentiment 07:00 Nov F 98.00 - 97.80 -  
                   
  11/22 FOMC Meeting Minutes 11:00 1 Nov - - - -  
                   
  11/23 No Data - - - - - -  
                   
  11/24 Markit US Manufacturing PMI 06:45 Nov P 55.00 - 54.60 -  
                   
  11/24 Markit US Services PMI 06:45 Nov P 55.30 - 55.30 -  
                   
  11/24 Markit US Composite PMI 06:45 Nov P - - 55.20 -  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   SeeMyLoanStatusTM  
  Download Rate Sheet   Conventional Program Guidelines  
  Price & Lock   Government Program Guidelines  
 
 
   
 
  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  
 
©2019 Sun West Mortgage Company, Inc. All Rights Reserved