Industry News
Mortgage Industry News
MBA Applications Up 5.8%
11/10/2010
MBA mortgage applications were up 5.8% week-over-week; the Refi index jumped 6%, purchases were 5.5% higher. Initial jobless claims printed better than expectations; both initial and continuing claims were revised upwards for the previous week. There is a $16B 30yr bond auction today. Right now, the futures market is pricing in a 92% chance that the Fed keeps rates between 0% and 0.25% through March 15th, 2011. Currently, the Ten Year yield is at 2.72% (2.54% yesterday) and the 2-10 yield spread is at 228bps, steepening 13bps since yesterday morning.
