Industry News
Mortgage Industry News
Mortgage Applications Rise
11/12/2009
MBA mortgage applications jumped 3.2% last week; the refinance index was up 11%, the purchase index dropped 12%. Both initial and continuing claims printed better than expectations. Right now, the futures market is pricing in an 80% chance that the Fed keeps rates somewhere between 0% and .25% through March 16th, 2010. Currently, the Ten Year yield is at 3.47% (3.45% on Tuesday) and the 2-10 yield spread is at 265bps, steepening 4bps since Tuesday morning.
