Industry News
Mortgage Industry News
Personal Incomes Increase
03/28/2011
Personal incomes increased in February, causing personal spending to jump more than expected. Stock futures are up on the news; Treasuries and mortgages are trading lower. The Treasury will auction $35B of 2yr notes today, $35B of 5yr notes tomorrow, and $29B of 7yr notes on Wednesday. Right now, the futures market is pricing in about a 91% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.48% (3.41% on Friday) and the 2-10 yield spread is at 269bps, flattening 1bp since Friday morning.
