Industry News
Mortgage Industry News
Today’s Mortgage Market News
01/20/2011
Both initial and continuing claims printed better than expectations. After Goldman Sachs disappointed the market with yesterday’s earnings, Morgan Stanley missed consensus due to lower trading revenue. US stock futures, Treasuries and mortgages are all lower in early trading. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.40% (3.34% yesterday) and the 2-10 yield spread is at 280bps, steepening 3bps since yesterday morning.
