Back to top

Market Commentary

Home
Market Commentary


 
Today's Coupons
 
  10-Year Notes   96-05.5 (+10)  
 
  FN 3.5% Coupon   102-12 (+07)  
 
  Support   2.524%  
 
  Resistance   2.338%  
 
 
 
 
Wednesday, December 14, 2016
 
 

The UST 10-Year yield is at 2.432% this morning after closing at 2.472% yesterday.

The day has finally come and the FOMC is scheduled to release its final rate decision for 2016 at 11:00 AM (PT).

MBA Mortgage Applications fell for the 3rd consecutive week, dropping by -4.00% in the week ended December 9th. Purchases were down by 3.30% and refinances dropped 3.60%. Retail Sales slowed in the month of November showing a slight increase of only 0.10% after having 2 strong months of growth. The Producer Price Index MoM for finished goods continued to grow at a steady pace, increasing by 0.40% in November and bringing the YoY PPI to a 1.30% growth, the largest gain since 2014.

U.S. Industrial Production, measuring output by factories, mines and utilities, had the largest drop in 3 months, slowing by -0.40% in the month of November. The drop is largely due to a sharp decline in electricity use driven by the warmer than normal winter weather. Capacity utilization, a gauge for slack in the industrial economy dropped slightly from the previously revised 75.40% to 75.00% in the month of November.

The curve has bull-flattened with the UST 10-Year 4 bps down from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/12 Monthly Budget Statement 11:00 Nov -$133.30 B - -$44.20 B -  
                   
  12/13 Import Price Index MoM 05:30 Nov -0.40% -0.30% 0.50% 0.40%  
                   
  12/13 Import Price Index YoY 05:30 Nov 0.00% -0.10% -0.20% -0.30%  
                   
  12/14 MBA Mortgage Applications 04:00 9 Dec - -4.00% -0.70% -  
                   
  12/14 Retail Sales Advance MoM 05:30 Nov 0.30% 0.10% 0.80% 0.60%  
                   
  12/14 PPI Final Demand MoM 05:30 Nov 0.10% 0.40% 0.00% -  
                   
  12/14 PPI Final Demand YoY 05:30 Nov 0.90% 1.30% 0.80% -  
                   
  12/14 Capacity Utilization 06:15 Nov 75.10% 75.00% 75.30% 75.40%  
                   
  12/14 Industrial Production MoM 06:15 Nov -0.30% -0.40% 0.00% 0.10%  
                   
  12/14 Business Inventories 07:00 Oct -0.10% -0.20% 0.10% 0.00%  
                   
  12/14 FOMC Rate Decision (Upper Bound) 11:00 14 Dec 0.75% - 0.50% -  
                   
  12/14 FOMC Rate Decision (Lower Bound) 11:00 14 Dec 0.50% - 0.25% -  
                   
  12/15 Empire Manufacturing 05:30 Dec - - 1.50 -  
                   
  12/15 CPI MoM 05:30 Nov - - 0.40% -  
                   
  12/15 CPI YoY 05:30 Nov - - 1.60% -  
                   
  12/15 Real Avg Weekly Earnings YoY 05:30 Nov - - 0.90% -  
                   
  12/15 Initial Jobless Claims 05:30 10 Dec - - - -  
                   
  12/15 Continuing Claims 05:30 3 Dec - - - -  
                   
  12/15 Bloomberg Consumer Comfort 06:45 11 Dec - - - -  
                   
  12/16 Housing Starts 05:30 Nov - - 1323K -  
                   
  12/16 Housing Starts MoM 05:30 Nov - - 25.50% -  
                   
  12/16 Building Permits 05:30 Nov - - 1229K 1260K  
                   
  12/16 Building Permits MoM 05:30 Nov - - 0.30% 2.90%  
                   
 
 
 
 
Helpful Links
  Visit Us Online   Submit Loan  
  Get Approved   Resolve Loan Conditions  
  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  
 
©2016 Sun West Mortgage Company, Inc. All Rights Reserved