Industry News
Mortgage Industry News
Jobless Claims Strong
12/31/2009
Initial and continuing jobless claims printed much stronger than expectations, the lowest levels since July 2008. Stock futures and commoditiesare up; bonds are down. Right now, the futures market is pricing in an 83% chance that the Fed keeps rates somewhere between 0% and .25% through April 28th, 2010. Currently, the Ten Year yield is at 3.847%(3.80% yesterday) and the 2-10 yield spread is at 273bps, steepening 3bps since yesterday morning.
