Industry News
Mortgage Industry News
Jobless Claims Improve
08/27/2009
Initial and Continuing jobless claims improved slightly week over week. 2Q GDP printed better than expected due to government spending. Toll Brothers reported a 3Q loss of $472.3MM as demand for luxury homes remained subdued. Right now, the futures market is pricing in a 94% chance that the Fed keeps rates somewhere between 0% and .25% through December 16th, 2009. Currently, the Ten Year yield is at 3.45% (3.44% yesterday) and the 2-10 yield spread is at 243bps, steepening 5bps since yesterday morning.
