Industry News
Mortgage Industry News
Mortgage Applications Inch Up
10/06/2010
ADP printed at a worse than expected -39K; consensus for Friday Nonfarm Payrolls is 0K. MBA mortgage applications increased 0.2%- the purchase index increased by 9.3%, while the much larger refi index dropped 2.5%. Stocks are mixed, bonds are up. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates between 0% and 0.25% through January 26th, 2011. Currently, the Ten Year yield is at 2.41% (2.46% yesterday) and the 2-10 yield spread is at 201bps, flattening 4bps since yesterday morning.
