Industry News
Mortgage Industry News
Building Permits Increase
04/19/2011
Bonds are relatively unchanged versus yesterday’s close this morning. Building permits showed a 7.2% annual increase with Housing Starts printing 549K, more than the 520K anticipated by most analysts. Goldman Sachs announced a 21 percent drop in first-quarter earnings, which was a smaller decline than the street consensus. Right now, the futures market is pricing in about a 93% chance that the Fed keeps rates between 0% and 0.25% through August 9th, 2011. Currently, the Ten Year yield is at 3.39% (3.39% yesterday) and the 2-10 yield spread is at 271bps, steepening 1bp since yesterday morning.
