Industry News
Mortgage Industry News
Refinance Applications Jump 9.3%
12/14/2011
Treasury prices are mostly unchanged today as EU headlines were quiet overnight. Yesterday’s FOMC meeting produced no real surprises, leaving markets to linger in current trading ranges. Today’s economic calendar has already reached fruition with the early morning releases of the weekly MBA mortgage applications index and the Nov import/export price reports. Applications increased 4.1% week over week, adding to the sizeable 12.8% jump posted last week. Refinances posted a solid 9.3% increase, while purchases suffered an -8.2% loss. Lastly, both import and export prices posted gains in November that were slightly below expectations. Currently, the 10yr yield is at 1.965% (2.047% Tuesday) and the 2-10 yield spread is at 173bps, flatter by 8bps since yesterday morning.
