Industry News
Mortgage Industry News
Today’s Market Color
10/25/2010
The Chicago Fed index number printed slightly worse than expectations; existing home sales data is due out later this morning. Fed Chairman Bernanke is currently speaking on how regulators are "intensively" examining home-foreclosure practices and expect to release preliminary findings next month. The following auctions are scheduled for this week: $10 5yr TIPS today, $35B 2yr notes tomorrow, $35B 5yr notes on Wednesday, and $29B 7yr notes on Thursday. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates between 0% and 0.25% through January 26th, 2011. Currently, the Ten Year yield is at 2.506% (2.57% on Friday) and the 2-10 yield spread is at 215bps, flattening 6bps since yesterday morning.
