Industry News
Mortgage Industry News
Mortgage Market News
02/16/2011
MBA mortgage applications dropped 9.5%; purchases were 5.9% lower, the Refi index was off 11.4%. Housing starts surprised to the upside; PPI was more elevated than expected (CPI is scheduled for tomorrow). Right now, the futures market is pricing in an 86% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.61% (3.63% yesterday) and the 2-10 yield spread is at 276bps, flattening 1bp since yesterday
