Industry News
Mortgage Industry News
Today's Market Color
01/28/2010
Yesterday, the Fed expectedly left rates unchanged, but remained firm that they will end the $1.25T MBS purchase program at the end of March, which pushed yields higher. This morning, initial jobless claims posted a week-over-week drop; durable goods orders jumped more than forecast. There is a $32B 7yr note auction today. Right now, the futures market is pricing in an 84% chance that the Fed keeps rates somewhere between 0% and .25% through June 23rd, 2010. Currently, the Ten Year yield is at 3.67% (3.63% yesterday) and the 2-10 yield spread is at 276bps, flattening 1bp since yesterday morning.
