Industry News
Mortgage Industry News
Purchase Applications Increase 8.1%
01/11/2012
Treasury prices are edging higher this morning as EU debt fears continue to percolate. It’s been a relatively tranquil week thus far with little in the way of market moving headlines and light economic data. Today’s economic calendar has already produced the latest release of the MBA mortgage applications index. Applications increased 4.5% as normal business activity resumes from the holiday lull. Purchases led the way higher by posting an 8.1% increase, while refinance activity increased 3.3%. Later today, the treasury will reopen $21bln of 10yr notes and there are numerous Fed representatives out and about with planned speeches. Currently, the 10 year yield is at 1.939% (1.996% Tuesday) and the 2-10 yield spread is at 170bps, 4 bps flatter since yesterday morning.
