Industry News
Mortgage Industry News
Jobless Claims Below 500K
12/10/2009
Initial Jobless Claims again printed below the 500K level. The less volatile 4-week rolling average is at a one-year low, 473,750. French President Nicolas Sarkozy is considering a one-time tax on banker bonuses over 27K euros for 2009; the rate has not yet been determined. Right now, the futures market is pricing in an 81% chance that the Fed keeps rates somewhere between 0% and .25% through March 16th, 2010. Currently, the Ten Year yield is at 3.45% (3.40% yesterday) and the 2-10 yield spread is at 267bps, flattening 2bps since yesterday morning.
