The UST10-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 IndexMoM for finished goods continued to grow at a steady pace, increasing by 0.40% in November and bringing the YoYPPI 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.
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
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.