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Mortgage Industry News
ECB Raises Rates
04/07/2011
Initial jobless claims printed in-line with expectations; continuing claims were higher than consensus. The ECB raised rates today for the first time in almost three years from 1% to 1.25%, putting pressure on the US Fed to start considering the same course of action. Right now, the futures market is pricing in about a 91% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.57% (3.51% yesterday) and the 2-10 yield spread is at 273bps, steepening 5bps since yesterday morning
