Industry News
Mortgage Industry News
Commodities Rally
10/07/2009
Mortgage applications jumped 16.4% last week due to lower rates. Commodities continue to rally this morning: Gold at $1,045/ounce, oil at $71/barrel. US office vacancies climbed in the last year from 13.7% to 16.5%; effective rent rates dropped by 8.5%. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through January 27th, 2010. Currently, the Ten Year yield is at 3.23% (3.24% yesterday) and the 2-10 yield spread is at 235bps, steepening 1bp since yesterday morning.
