Industry News
Mortgage Industry News
Today’s Mortgage Marketplace
01/06/2011
Initial jobless claims climbed 18k week-over-week, the 4-week average dropped, however, to 410,750, the lowest level since July 2008; continuing claims printed higher than expectations; consensus for tomorrow’s Nonfarm Payrolls number is +150K. Both US stock futures and bonds are up in early trading. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.43% (3.39% yesterday) and the 2-10 yield spread is at 274bps, steepening 2bps since yesterday morning.
