Industry News
Mortgage Industry News
Housing Starts Post Stronger Than Expected
05/18/2010
Headline PPI printed softer than expectations due to deflated food and energy prices; housing starts posted a better than consensus month-over-month increase. Stock futures and commodities are up. Right now, the futures market is pricing in a 72% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.429% (3.44% yesterday) and the 2-10 yield spread is at 267bps, steepening 1bp since yesterday morning.
