Industry News
Mortgage Industry News
Mortgage Applications Are Up!
08/26/2009
MBA Mortgage Applications rose by 7.5% last week; refinancing was up by 13%, purchases were 1% higher. Durable Goods Orders printed better than expectations partly due to the “Cash-for-Clunkers” program. New home sales are due out at 10:00. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates somewhere between 0% and .25% through December 16th, 2009. Currently, the Ten Year yield is at 3.44% (3.51% yesterday) and the 2-10 yield spread is at 238bps, flattening 8bps since yesterday morning.
