Industry News
Mortgage Industry News
Personal Spending Increases
06/28/2010
Even though personal income showed a slight downtick in the economic releases this morning, personal spending posted an increase, showing that the consumer may be getting more confident about where the economy is heading. The G-20 agreed to pursue higher capital requirements for banks once economies start to recover fully. Right now, the futures market is pricing in a 76% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 3.044% (3.08% on Friday) and the 2-10 yield spread is at 243bps, flattening 4bps since Friday morning.
