The UST10-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.
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 2.587% 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!