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Market Commentary


 
Today's Coupons
 
  10-Year Notes   95-01.5 (-07.5)  
 
  FN 3.5% Coupon   101-11 (-06)  
 
  Support   2.594%  
 
  Resistance   2.526%  
 
 
 
 
Tuesday, December 27, 2016
 
 
The UST 10-Year yield is at 2.570% this morning after closing at 2.538% on Friday.

Today, the S&P CoreLogic Case-Shiller Indices provided some color into the residential housing market. The National Housing Price Index (HPI) showed strong overall month-over-month growth, increasing by 0.05% to 0.85% for the month of October. The 20-City NSA Index, which measures the value of real estate in 20 major metropolitan areas of the U.S., including L.A, San Francisco, Miami and NY, showed a slight increase for the month of October, coming in at 191.79 from the previously revised 191.68. The 20-City Index rose 5.10% from October 2015 YoY, and Housing Prices rose 5.61% to 185.06 nationwide, the biggest gain since July 2014. The areas with the highest price increases were Seattle and Portland, rising by 10.70% and 10.30% respectively. New York has the lowest price increases YoY at only 1.70%.

The Richmond Federal Manufacturing Index rose to 8.00, showing the largest increase in shipments and new orders. Finished goods declined 7.00% and orders for raw goods rose 2.00%. Consumers' view of the economy continued on positive ground as Consumer Confidence rose to 113.70, the highest seen since August 2001.

The curve has bear-steepened with the UST 10-Year 3.2 bps up from prior closing.

 
 
   
 
   
 
This Week's Events
 
 
  DATE EVENT TIME(PT) PERIOD SURVEY ACTUAL PRIOR REVISED  
  12/26 No Data - - - - - -  
                   
  12/27 S&P CoreLogic CS US HPI MoM SA 06:00 Oct - 0.85% 0.83% 0.80%  
                   
  12/27 S&P CoreLogic CS 20-City NSA Index 06:00 Oct - 191.79 191.78 191.68  
                   
  12/27 S&P CoreLogic CS 20-City YoY NSA 06:00 Oct 5.03% 5.10% 5.08% 5.03%  
                   
  12/27 S&P CoreLogic CS US HPI YoY NSA 06:00 Oct - 5.61% 5.46% 5.39%  
                   
  12/27 Consumer Confidence Index 07:00 Dec 109.00 113.70 107.10 109.40  
                   
  12/27 Richmond Fed Manufact. Index 07:00 Dec 5.00 8.00 4.00 -  
                   
  12/28 Dallas Fed Manf. Activity 07:30 Dec 10.20 - 10.20 -  
                   
  12/29 Wholesale Inventories MoM 05:30 Nov P 0.20% - -0.40% -  
                   
  12/29 Initial Jobless Claims 05:30 24 Dec 264 K - 275 K -  
                   
  12/29 Continuing Claims 05:30 17 Dec 2027 K - 2036 K -  
                   
  12/29 Bloomberg Consumer Comfort 06:45 25 Dec - - 46.70 -  
                   
  12/30 Chicago Purchasing Manager 06:45 Dec 57.00 - 57.60 -  
                   
 
 
 
 
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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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