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Market Commentary


 
Today's Coupons
 
  10-Year Notes   94-31.5 (-09)  
 
  FN 3.5% Coupon   101-11.5 (-04)  
 
  Support   2.638%  
 
  Resistance   2.422%  
 
 
 
 
Tuesday, December 20, 2016
 
 
The UST 10-Year yield is at 2.580% this morning after closing at 2.539% yesterday.

The markets erased the gains seen from yesterday's rally and U.S. Treasury yields continued to climb for the 7th consecutive week, reaching levels not seen since October 2014. The average 15 and 30-Year mortgage rates have risen to 3.370% and 4.160%, respectively.

There are no economic releases this morning. Tomorrow, MBA Mortgage Applications and Existing Home sales data will be released. The Chicago Fed Activity Index, GDP, Unemployment, Consumer Comfort and New Home Sales data will be some of the key economic indications being released later this week.

The Fed is scheduled to purchase $375 Million in G2SF 3.0s, $800 Million in G2SF 3.5s and $175 Million in G2SF 4.0s today.

The curve has bear-steepened with the UST 10-Year 4.1 bps up from prior closing.
 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/19 Markit US Services PMI 06:45 Dec P 55.20 53.40 54.60 -  
                   
  12/19 Markit US Composite PMI 06:45 Dec P - 53.70 54.90 -  
                   
  12/20 No Data - - - - - -  
                   
  12/21 MBA Mortgage Applications 04:00 16 Dec - - -4.00% -  
                   
  12/21 Existing Home Sales 07:00 Nov 5.50 M - 5.60 M -  
                   
  12/21 Existing Home Sales MoM 07:00 Nov -1.80% - 2.00% -  
                   
  12/22 Chicago Fed Nat Activity Index 05:30 Nov -0.10 - -0.08 -  
                   
  12/22 GDP Annualized QoQ 05:30 3Q T 3.30% - 3.20% -  
                   
  12/22 GDP Price Index 05:30 3Q T 1.40% - 1.40% -  
                   
  12/22 Personal Consumption 05:30 3Q T 2.80% - 2.80% -  
                   
  12/22 Core PCE QoQ 05:30 3Q T 1.70% - 1.70% -  
                   
  12/22 Durable Goods Orders 05:30 Nov P -4.90% - 4.60% -  
                   
  12/22 Durables Ex Transportation 05:30 Nov P 0.20% - 0.80% -  
                   
  12/22 Initial Jobless Claims 05:30 17 Dec 257 K - 254 K -  
                   
  12/22 Continuing Claims 05:30 10 Dec 2010 K - 2018 K -  
                   
  12/22 FHFA House Price Index MoM 06:00 Oct 0.50% - 0.60% -  
                   
  12/22 Bloomberg Consumer Comfort 06:45 18 Dec - - 45.50 -  
                   
  12/22 Personal Income 07:00 Nov 0.30% - 0.60% -  
                   
  12/22 Personal Spending 07:00 Nov 0.30% - 0.30% -  
                   
  12/22 Leading Index 07:00 Nov - - 0.10% -  
                   
  12/22 PCE Deflator MoM 07:00 Nov - - - -  
                   
  12/22 PCE Deflator YoY 07:00 Nov - - - -  
                   
  12/22 PCE Core MoM 07:00 Nov - - - -  
                   
  12/22 PCE Core YoY 07:00 Nov - - - -  
                   
  12/23 U. of Mich. Sentiment 07:00 Dec F - - - -  
                   
 
 
 
 
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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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