Industry News
Mortgage Industry News
Mortgage Applications Off 11%
04/07/2010
MBA Mortgage applications were off 11% in the holiday-shortened week. Seeking a lower yield, Greece is looking to offer dollar-denominated debt. Yesterday's 3yr note auction was strong; the Treasury will auction $21B in 10yr notes today. Right now, the futures market is pricing in a 90% chance that the Fed keeps rates at .25% through August 10th, 2010. Currently, the Ten Year yield is at 3.949% (3.95% yesterday) and the 2-10 yield spread is at 284bps, steepening 4bps since yesterday morning.
