Industry News
Mortgage Industry News
Mortgage Applications Rise
09/14/2011
Treasury prices are edging lower this morning as markets continue to wait for further developments on the Greek debt crisis. French banks remain in the crosshairs as Moody’s cut the long term debt ratings of SocGen and Credit Agricole. Today’s economic calendar finally provides some meaningful data. The early morning release of the weekly MBA mortgage applications index showed a +6.3% gain as mortgage rates continue to hit new lows. Meanwhile, the Aug retail sales report failed to meet investor expectations as a sales remained unchanged in August versus the consensus estimate of +0.2%. Currently, the 10yr yield is at 2.02% (1.956% Monday) and the 2-10 yield spread is at 182 bps, steeper by 7 bps since yesterday morning.
