Industry News
Mortgage Industry News
Today’s Market News
09/27/2011
The rollercoaster ride continues as treasury prices keep giving up last week’s gains. Investors are pinning their hopes on a massive European rescue plan as EU leaders appear to be stepping up procedures to bolster banks in the event of a major default. Today’s economic calendar is relatively busy with another dose of US housing data on the docket, as well as some measures on US consumer confidence and manufacturing. The Case/Shiller home price index is expected to actually post a slight increase of +0.7% month over month vs June’s slight decline -0.06% Meanwhile, the Sept US consumer confidence index is expected to rise +1.5 to 46 from August’s dismal level of 44.5. Currently, the 10yr yield is at 1.975% (1.844% Monday) and the 2-10 yield spread is at 173 bps, steeper by 21 bps since yesterday morning.
