Industry News
Mortgage Industry News
Today’s Market Color
03/04/2011
Nonfarm Payrolls printed in line with expectations, +192K, and the unemployment rate dropped 0.2% to 8.9%; U6 decreased from 16.1% to 15.9%; the change in private payrolls was better than consensus. Stock futures are mildly higher; Treasuries and mortgages are hovering around unchanged. Right now, the futures market is pricing in about an 82% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.508% (3.52% yesterday) and the 2-10 yield spread is at 279bps, steepening 1bp since yesterday morning.
