Industry News
Mortgage Industry News
30 Year Fixed Rate Rises
12/15/2010
MBA mortgage applications were down 2.3%; the Refi index was off 0.7% and purchases were 5.0% lower; the 30yr fixed rate went from 4.66% in the previous week to 4.84%. Moody’s announced that they may cut Spain’s credit rating. Right now, the futures market is pricing in an 81% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.44% (3.32% yesterday) and the 2-10 yield spread is at 280bps, steepening 9bps since yesterday morning.
