Industry News
Mortgage Industry News
Mortgage Market News
04/27/2011
MBA Mortgage Applications dropped 5.6% last week; purchases decreased 13.6% and the Refi index was 0.6% lower. The Treasury is scheduled to auction $35B of 5yr notes today and $29B of 7yr notes tomorrow. The FOMC rate decision is set for release at 12:30 today; Fed Chairman Bernanke is slated to speak at 2:15. Currently, the Ten Year yield is at 3.35% (3.36% yesterday) and the 2-10 yield spread is at 267bps, flattening 4bps since yesterday morning.
