Industry News
Mortgage Industry News
Mortgage Market News
03/23/2011
Both the MBA purchase and refi indexes printed at +2.7% week-over-week; ARM applications jumped 8.0% and made up 11.5% of the total dollar amount of apps. Portugal faces a budget vote which may trigger a bailout, pushing yields on the most-indebted nations higher. Right now, the futures market is pricing in about a 92% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.29% (3.34% yesterday) and the 2-10 yield spread is at 265bps, flattening 4bps since yesterday morning.
