Industry News
Mortgage Industry News
Today’s Market News
02/11/2011
Bonds, the U.S. Dollar and Oil are rallying while U.S. Stock Futures are trading lower this morning following Egyptian President Mubarak’s refusal to resign immediately. The U.S. trade deficit widened for the second month in a row, printing at 40.6B, as oil imports are trading at their highest level in two years. The Treasury released their plan to reform the mortgage market, calling for the government to shrink and "ultimately wind down" FNMA and FHLMC. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.64% (3.69% yesterday) and the 2-10 yield spread is at 283bps, tightening 3bps since yesterday morning.
