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Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-28.5 (+11)  
 
  FN 3.5% Coupon   102-24.5 (+05.5)  
 
  Support   2.488%  
 
  Resistance   2.291%  
 
 
 
 
Wednesday, December 7, 2016
 
 
The UST 10-Year yield is at 2.363% this morning after closing at 2.390% yesterday.

This morning, little economic data was released ahead of the ECB meeting tomorrow and the much anticipated FED meeting on Dec 13-14th.

MBA Mortgage Applications data was released for the week ending in December 2nd; the applications index fell 0.70% after falling 9.40% the week prior. Applications for FHA purchases rose by 15.00% after falling 7.60% the week prior and VA refinances increased 13.30% after falling 29.90% the week prior. The average 30-Year fixed rate is currently at 4.270% vs. 3.620% in September. The U.S. Bureau of Labor Statistics released the October Job Openings and Labor Turnover Survey (JOLTS) which came in at 5.534 Million, a dip from the previously revised 5.631 Million in September.

Today, the Fed is scheduled to purchase $2.50 Billion in 30-Year Mortgage Backed Securities, $500 Million in Fannie 3.00’s, $975 Million in Fannie 3.50’s, $350 Million in Freddie 3.00’s, and $675 Million in Freddie 3.50’s.

The curve has bull-flattened with the UST 10-Year 2.7 bps down from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/05 Markit US Services PMI 06:45 Nov F 54.90 54.60 54.70 -  
                   
  12/05 Markit US Composite PMI 06:45 Nov F - 54.90 54.90 -  
                   
  12/06 Nonfarm Productivity 05:30 3Q F 3.30% 3.10% 3.10% -  
                   
  12/06 Factory Orders 07:00 Oct 2.60% 2.70% 0.30% 0.60%  
                   
  12/06 Factory Orders Ex Trans 07:00 Oct - 0.80% 0.60% -  
                   
  12/06 Durable Goods Orders 07:00 Oct F 3.40% 4.60% 4.80% -  
                   
  12/06 Durables Ex Transportation 07:00 Oct F 0.50% 0.80% 1.00% -  
                   
  12/07 MBA Mortgage Applications 04:00 2 Dec - -0.70% -9.40% -  
                   
  12/07 JOLTS Job Openings 07:00 Oct 5500 5534 5486 5631  
                   
  12/08 Initial Jobless Claims 05:30 3 Dec 255K - 268K -  
                   
  12/08 Continuing Claims 05:30 26 Nov 2048K - 2081K -  
                   
  12/08 Bloomberg Consumer Comfort 06:45 4 Dec - - 44.90 -  
                   
  12/09 Wholesale Inventories MoM 07:00 Oct F -0.40% - -0.40% -  
                   
  12/09 U. of Mich. Sentiment 07:00 Dec P 94.50 - 93.80 -  
                   
 
 
 
 
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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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