Industry News
Mortgage Industry News
China Exports Higher Than Expected
06/09/2010
China's exports printed much better than expectations, sending stocks higher. Despite lower rates, mortgage applications were off 12.2% last week. The Treasury is scheduled to auction off $21B in 10yr notes today. Right now, the futures market is pricing in a 74% chance that the Fed keeps rates at .25% through September 21st, 2010. Currently, the Ten Year yield is at 3.22% (3.18% yesterday) and the 2-10 yield spread is at 246bps, steepening 1bp since yesterday morning.
