Industry News
Mortgage Industry News
Goldman Sachs Earnings Drop
01/19/2011
Goldman Sachs earnings plunged 52%, on decreased revenue from trading and investment banking, which was in line with analyst’s estimates. Housing Starts decreased 4.3% to a one-year low of 529k/year, the second lowest reading on record. Right now, the futures market is pricing in an 87% chance that the Fed keeps rates between 0% and 0.25% through April 27th, 2011. Currently, the Ten Year yield is at 3.34% (3.29% Yesterday) and the 2-10 yield spread is at 277bps, steepening 5bps since Friday morning.
