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Market Commentary

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Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-05 (+01)  
 
  FN 3.5% Coupon   101-13.5 (+01)  
 
  Support   2.638%  
 
  Resistance   2.422%  
 
 
 
 
Wednesday, December 21, 2016
 
 
The UST 10-Year yield is at 2.549% this morning after closing at 2.560% yesterday.

In this morning economic data releases, the housing market showed signs of recovering as Mortgage Applications rise for the first time since November 18th. Applications rose overall by 2.50% in the week ended December 16th after declining by 4.00% the week prior. Applications for FHA Purchase transactions were up 1.00% after dropping by 3.10% the week prior and VA Refinances were up 5.60% after declining by 8.50% the previous week. The spike in applications came despite another increase to the average 30-Year mortgage rate which is currently at 4.410% from 4.280% last week.

Existing Home Sales exceeded expectations coming in at 5.61 Million vs. the forecasted 5.50 Million for the month of November. MoM Home Sales also rose in the month of November, increasing by 0.70% vs. -1.80% forecasted drop in sales.

The curve has bull-steepened with the UST 10-Year 1.1 bps down 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 - 2.50% -4.00% -  
                   
  12/21 Existing Home Sales 07:00 Nov 5.50 M 5.61 M 5.60 M 5.57 M  
                   
  12/21 Existing Home Sales MoM 07:00 Nov -1.80% 0.70% 2.00% 1.50%  
                   
  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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