Industry News
Mortgage Industry News
Today’s Market Color
09/29/2010
MBA mortgage applications fell 0.8% week-over-week; the refi index was down 1.6%, while purchases increased 2.4%. There is a $29B 7yr note auction scheduled for this afternoon. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates between 0% and 0.25% through January 26th, 2011. Currently, the Ten Year yield is at 2.48% (2.53% yesterday) and the 2-10 yield spread is at 204bps, flattening 4bps since yesterday morning.
