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Mortgage Industry News
Overhall to Financial Regulations Bill
06/25/2010
GDP grew by 2.7% in the first quarter, less than previously reported. Lawmakers from the House and the Senate worked through the night to reconcile their two versions of the financial regulations bill, which will be the most sweeping overhaul since the Great Depression. Right now, the futures market is pricing in a 75% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 3.095% (3.09% yesterday) and the 2-10 yield spread is at 247bps, steepening 4bps since yesterday morning.
