Industry News
Mortgage Industry News
Existing Home Sales Dip
06/23/2010
Yesterday, Existing Home Sales printed much worse than expectations, down 6.0% month-over-month versus a consensus 2.2% increase; New Home Sales is scheduled for release later this morning. The Fed will announce their decision this afternoon and are expected to leave interest rates unchanged but the market will likely be more focused on the language that the Fed uses as to when they may raise rates. Currently, the Ten Year yield is at 3.117% (3.21% yesterday) and the 2-10 yield spread is at 247bps, flattening 3bps since yesterday morning.
