Industry News
Mortgage Industry News
Little Change Expected From Housing Market
07/26/2011
Treasury prices are idling near unchanged as markets await further developments on the debt cap discussions. This week’s economic calendar kicks off today with a bit of housing related news and consumer confidence. Little change is expected on the housing front with both the May Case-Shiller 20-City Index (m/m) and the June US new homes sales reports projected to post results that were roughly in line with the previous month. Meanwhile, US Consumer Confidence is expected to drift lower to 56 from 58.5 in the wake of disappointing labor news, higher gas prices and continued US housing woes. Currently, the 10yr yield is at 3.015% (3.006% yesterday) and the 2-10 yield spread is at 260bps, unchanged since yesterday morning.
