Industry News
Mortgage Industry News
Building Permits Highest In Year
12/16/2009
CPI printed in line with expectations; ex-food and energy posted no change month-over-month, showing that inflation is still in check with the Fed scheduled to announce their rate decision at 2:15 this afternoon. Building permits registered the highest annualized number in a year as some government tax credits were extended out to the spring of next year. Right now, the futures market is pricing in a 78% chance that the Fed keeps rates somewhere between 0% and .25% through March 16th, 2010. Currently, the Ten Year yield is at 3.552%(3.59% yesterday) and the 2-10 yield spread is at 273bps, steepening 2bps since yesterday morning.
