Industry News
Mortgage Industry News
Jump In Mortgage Applications
05/11/2011
Bonds are trading slightly lower this morning following an 8.2% jump in mortgage applications. The U.S. trade deficit widened more than most analysts anticipated in March, jumping 6% to $48.2B. With elevated oil prices, and a weak dollar, most analysts anticipate that the deficit will continue to widen in the near term. Right now, the futures market is pricing in about an 83% chance that the Fed keeps rates between 0% and 0.25% through September 20th, 2011. Currently, the Ten Year yield is at 3.22% (3.17% yesterday) and the 2-10 yield spread is at 263bps.
