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Market Commentary


 
Today's Coupons
 
  10-Year Notes   94-29.5 (+06)  
 
  FN 3.5% Coupon   101-07.5 (+06.5)  
 
  Support   2.638%  
 
  Resistance   2.338%  
 
 
 
 
Friday, December 16, 2016
 
 

The UST 10-Year yield is at 2.587% this morning after closing at 2.598% yesterday.

Today is light on economic data releases. The Department of Commerce released Housing Starts data which fell 18.70% in November to 1090K, after reaching a 9-month high in October of 1340K. New home starts fell across all four regions of the U.S., with the largest drop in new multi-family starts, plummeting by 45.10% in November. Home starts for single family residences, which account for about 2/3rds of the residential market activity, decreased only by 4.10%.

Building Permits fell by 4.70% in November to 1201K from the previously revised 1260K in October. Building Permits data is less volatile than housing starts, as they are sourced directly from local permitting offices and provide a clearer indication of new constructions to come. Permits for single family residences rose 0.50% to 778K while multi-family permits fell 13.00% in November.

The average 30-Year mortgage rate rose to 4.160% this week, the highest since October 2014.

The curve has bull-steepened with the UST 10-Year 1.1 bps down from prior closing.

Have A Nice Weekend!

 
 
   
 
   
 
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 4.00 9.00 1.50 -  
                   
  12/15 CPI MoM 05:30 Nov 0.20% 0.20% 0.40% -  
                   
  12/15 CPI YoY 05:30 Nov 1.70% 1.70% 1.60% -  
                   
  12/15 Real Avg Weekly Earnings YoY 05:30 Nov - 0.50% 0.90% -  
                   
  12/15 Initial Jobless Claims 05:30 10 Dec 255K 254K 258K -  
                   
  12/15 Continuing Claims 05:30 3 Dec 2003K 2018K 2005K 2007K  
                   
  12/15 Bloomberg Consumer Comfort 06:45 11 Dec - 45.50 45.10 -  
                   
  12/16 Housing Starts 05:30 Nov 1230K 1090K 1323K 1340K  
                   
  12/16 Housing Starts MoM 05:30 Nov -7.00% -18.70% 25.50% 27.40%  
                   
  12/16 Building Permits 05:30 Nov 1240K 1201K 1229K 1260K  
                   
  12/16 Building Permits MoM 05:30 Nov -1.60% -4.70% 0.30% 2.90%  
                   
 
 
 
 
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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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