September 18, 2013

Morning Market Report 9/18/2013

The KUIK Morning Market Report for Wednesday, September 18:

Markets are flat.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(19)	points	15,515	7:07 AM
S&P500	Up	0.07%	percent	1,706		1.18
Nasdaq Composite	Up	0.12%	percent	3,750		4.65
30 Year Treasury	Down	(1)	Basis Points	3.83	Annual Yield

The number of mortgage applications filed in the U.S. last week jumped about 11% from the week before on a seasonally adjusted basis as interest rates declined, according to the Mortgage Bankers Association. On an unadjusted basis, MBA reported the market composite index increased 23%. The refinance index grew 18%, while the seasonally adjusted purchase index climbed 3%. The average rate on 30-year fixed-rate mortgages fell to 4.75% from 4.8% and 15-year dropped to 3.81% from 3.83%.

The Department of Commerce said that construction on new homes rose 0.9% in August to a seasonally adjusted annual rate of 891,000. Starts for single-family homes rose 7%, while starts for apartments fell 9.4%.

U.S. Treasurys are ina holding pattern as investors wait to see whether the Federal Reserve will start scaling back its monthly bond purchases. The yield on the 10-year Treasury note is up 1 basis point to 2.866%, while the five-year note yield is up nearly 2 basis points to 1.627%.



Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/us-mortgage-applications-jumped-11-last-week-2013-09-18
http://www.marketwatch.com/story/home-construction-nudges-up-in-august-2013-09-18?link=MW_home_latest_news
http://www.marketwatch.com/story/treasurys-steady-as-investors-await-fed-decision-2013-09-18


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