Industry News
Mortgage Industry News
Jobless Claims Post Slight Decline
07/07/2011
Ahead of tomorrow’s Nonfarm Payrolls (consensus is +100K), ADP printed much stronger than expectations, +157K vs. +70K. Both initial and continuing jobless claims posted slight declines. The ECB raised rates for the second time this year from 1.25% to 1.50%. Stock futures are pointing higher while Treasuries and mortgages are trading a little softer. Currently, the Ten Year yield is at 3.15% (3.08% yesterday) and the 2-10 yield spread is at 269bps, steepening 3bps since yesterday morning.
