Housing Starts declined -2.8% in October following a +7.8% spike in September, and Housing Starts disappointed expectations for November down -1.6% vs. consensus +3.1%. Building Permits declined -5.2% (consensus -2.5%), following a 5.9% jump in October and a 2.8% boost in September. The November Markit PMI Manufacturing Index slowed to a 10-month low of 54.8 vs. 55.9 prior. Treasuries are testing resistance levels as the decline in crude oil prices weighs on inflation and growing turmoil in Russia fueled demand for safe haven assets. The curve has bull steepened with 2s10s up +0.3 bps.
GNMA Issuer Fannie Mae and Freddie Mac Direct Lender Licensed throughout the U.S. and Puerto Rico Privately Held Mortgage Bank for Over 32 Years Excellent Underwriting / Funding Turn Times
This information is provided solely for informational use and is not intended as a trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not liscensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to 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, price, guidelines, fees, costs, terms and conditions are subject to change without notice.