Industry News
Mortgage Industry News
Mortgage Applications Surge
09/09/2009
MBA mortgage applications jumped 17% last week; the refinancing index was up 22.5%, the purchase index increased 9.5%. The FDIC may extend its debt guarantee program for six months for emergency situations. Right now, the futures market is pricing in a 97% chance that the Fed keeps rates somewhere between 0% and .25% through December 16th, 2009. Currently, the Ten Year yield is at 3.51% (3.44% yesterday) and the 2-10 yield spread is at 255bps, steepening 2bps since yesterday morning.
