Industry News
Mortgage Industry News
Today’s Market Color
05/24/2011
MBS prices are down -2/32 (FNMA 30-yr 4.0 at 100.02), which is about 10/32 lower than yesterday at this time. Goldman stated that they are becoming "more bullish" on raw materials, specifically sugar, copper and oil; all three are higher in early trading. The Greek government endorsed an asset-sale plan and 6B euros of budget cuts. Right now, the futures market is pricing in about an 83% chance that the Fed keeps rates between 0% and 0.25% through September 20th, 2011. Currently, the Ten Year yield is at 3.16% (3.11% yesterday) and the 2-10 yield spread is at 262bps, steepening 2bps since yesterday morning.
