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Mortgage Industry News
Import Prices Climb
09/11/2009
Import prices climbed more than expected due to a weaker dollar. China’s industrial production rose more than forecast in August; lending and retail sales also advanced. Wells downgraded AIG saying that the company would be out of business without federal aid. Right now, the futures market is pricing in a 98% chance that the Fed keeps rates somewhere between 0% and .25% through December 16th, 2009. Currently, the Ten Year yield is at 3.28% (3.45% yesterday) and the 2-10 yield spread is at 247bps, flattening 7bps since yesterday morning.
