Industry News
Mortgage Industry News
GDP Grows 2.4%
07/30/2010
GDP in the second quarter grew at a 2.4% rate, slower than the 2.6% that economists were predicting; personal consumption also surprised to the downside. Equities are lower in early trading; bonds are higher across the board. Right now, the futures market is pricing in an 85% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 2.91% (3.01% yesterday) and the 2-10 yield spread is at 236bps, flattening 3bps since yesterday morning.
