Industry News
Mortgage Industry News
Jobless Claims Improve
03/03/2011
Both initial and continuing jobless claims printed better than expected; productivity also beat estimates; stock futures are up sharply; Treasuries, mortgages and oil are lower in early trading. Consensus for tomorrow’s Nonfarm Payrolls number is +195K. Right now, the futures market is pricing in about an 82% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.52% (3.43% yesterday) and the 2-10 yield spread is at 278bps, steepening 1bp since yesterday morning.
