Industry News
Mortgage Industry News
Mortgage Rates Rise
04/01/2010
Mortgage rates are higher this morning on the first day with no Fed purchasing. Stock futures are up on news that manufacturing increased in China, Japan and the UK. After yesterday's weak ADP print, tomorrow's consensus for Nonfarm Payrolls is +182K. Right now, the futures market is pricing in a 77% chance that the Fed keeps rates at .25% through August 10th, 2010. Currently, the Ten Year yield is at 3.859% (3.82% yesterday) and the 2-10 yield spread is at 283bps, steepening 3 bps since yesterday morning.
