Industry News
Mortgage Industry News
Today’s Market Color
02/24/2011
Initial and continuing jobless claims printed better than expectations; there were upward revisions to the previous week; durable goods orders posted a strong turn-around due to aircraft orders. The escalating tensions in the Middle East have oil trading above $100/barrel; stock futures are lower. The Treasury is scheduled to auction $29B of 7yr notes today. 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 3.44% (3.48% yesterday) and the 2-10 yield spread is at 271bps, steepening 1bp since yesterday morning.
