Industry News
Mortgage Industry News
Auctions Push Borrowing Costs Lower
01/19/2012
Treasury prices are edging lower this morning after successful French and Spanish auctions pushed borrowing costs lower. The US economic calendar brings another heavy dose of data today. Both the initial and continuing claims reports posted much better than expected results. Initial claims dipped to 352k vs. estimates of 385k and continuing claims dipped to 3.432mln vs estimates of 3.590mln. Meanwhile Dec CPI data was mostly in line with expectations but housing starts dipped more than expected (657 actual vs 690 est). Currently, the 10 year yield is at 1.938% (1.857% Wednesday).
