Industry News
Mortgage Industry News
Mortgage Market News
05/04/2011
ADP printed below expectations, +179K; consensus for Nonfarm Payrolls on Friday is +185K. MBA mortgage applications posted a 4.0% increase; purchases were up 0.3% and the Refi index jumped 6.0%. Right now, the futures market is pricing in about an 80% chance that the Fed keeps rates between 0% and 0.25% through September 20th, 2011. Currently, the Ten Year yield is at 3.26% (3.26% yesterday) and the 2-10 yield spread is at 263bps, flattening 3bps since yesterday morning.
