Industry News
Mortgage Industry News
Today's Market Color
05/17/2010
Empire manufacturing grew much less than expectations. The debt crisis in Europe continues to weigh on the markets; the euro is lower, equities are down, bonds are up. Right now, the futures market is pricing in a 71% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.411% (3.49% on Friday) and the 2-10 yield spread is at 266bps, flattening 3bps since Friday morning.
