Industry News
Mortgage Industry News
Last Day of MBS Purchase Program
03/31/2010
ADP printed worse than expectations, -23K; consensus for Nonfarm Payrolls on Friday is +185K. Today is the last day of the Fed's $1.25T MBS purchase program. With the uptick in production the last few days, the Compass C30 Avg Gross Profit Margin increased by 6bps yesterday. Right now, the futures market is pricing in a 77% chance that the Fed keeps rates at .25% through August 10th, 2010. Currently, the Ten Year yield is at 3.835% (3.87% yesterday) and the 2-10 yield spread is at 280bps, flattening 3 bps since yesterday morning.
