Industry News
Mortgage Industry News
Today’s Market News
04/20/2011
Bonds are trading lower today while U.S. Equity Futures are trading higher on news that Intel increased their sales forecasts and company results beat estimates in Europe and Asia. Wells Fargo increased their first-quarter profit by 48%, which was better than most analysts anticipated. MBA Mortgage Applications printed at 5.3% versus a decline of 6.7% in the previous month. Right now, the futures market is pricing in about a 93% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.39% (3.39% yesterday) and the 2-10 yield spread is at 272bps, steepening 1bp since yesterday morning.
