Industry News
Mortgage Industry News
Import Prices Higher Than Expected
02/15/2011
Import prices, both month-over-month and year-over-year, printed much higher than expectations; Empire manufacturing was better than consensus; Retail sales were softer. Equities, Treasuries, and mortgages are mixed following the data. 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 3.63% (3.66% yesterday) and the 2-10 yield spread is at 277bps, flattening 4bps since yesterday morning.
