Industry News
Mortgage Industry News
Jobless Claims Unchanged
11/19/2009
Initial jobless claims were unchanged week over week at -505K; continuing claims dropped 39K to 5611K. The Organization for Economic Development predicted that the economies for the group's 30 developed countries will grow at 1.9% next year and 2.5% in 2011, doubling their initial forecasts. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through March 16th, 2010. Currently, the Ten Year yield is at 3.35% (3.33% yesterday) and the 2-10 yield spread is at 262bps, steepening 6bps since yesterday morning.
