Industry News
Mortgage Industry News
Today’s Mortgage News
12/02/2010
Investors anticipate that ECB President Trichet will delay the withdrawal of unlimited cash to banks and increase bond purchases. Stock futures are up; mortgages and Treasuries were down sharply before Initial and Continuing Jobless Claims printed worse than expectations. Consensus for tomorrow’s Nonfarm Payrolls number is +145K. Right now, the futures market is pricing in a 90% chance that the Fed keeps rates between 0% and 0.25% through March 15th, 2011. Currently, the Ten Year yield is at 3.00% (2.91% yesterday) and the 2-10 yield spread is at 246bps, steepening 6bps since yesterday morning.
