Industry News
Mortgage Industry News
Fed Statement on Economy
06/24/2010
Initial and continuing jobless claims printed in-line with expectations. Yesterday, the Fed said that "the economic recovery is proceeding and that the labor market is improving gradually...Housing starts remain at a depressed level...Bank lending has continued to contract in recent months". The Fed left rates unchanged. Currently, the Ten Year yield is at 3.095% (3.18% yesterday) and the 2-10 yield spread is at 243bps, flattening 4bps since yesterday morning.
