Industry News
Mortgage Industry News
3-Month Libor Nearly Doubles
05/24/2010
There are more fears this morning surrounding the European debt crisis; the euro is off 1.5% against the dollar; stock futures and oil are down, bonds are up. 3-month LIBOR has almost doubled in the last 3 months. Right now, the futures market is pricing in a 75% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.214% (3.12% on Friday) and the 2-10 yield spread is at 244bps, steepening 1bp since Friday morning.
