Industry News
Mortgage Industry News
B of A Posts Fourth Quarter Loss
01/21/2011
Bank of America posted a $1.24B 4Q loss after boosting provisions tied to faulty loans and litigation; they also wrote down the value of their mortgage unit. US stock futures are higher on GE’s earnings. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.43% (3.40% yesterday) and the 2-10 yield spread is at 281bps, steepening 1bp since yesterday morning.
