Industry News
Mortgage Industry News
Today’s Market Color
04/29/2011
Personal income and spending both posted larger-than-expected gains in March. After Exxon produced a 1Q profit of $10.7B earlier this week, Chevron announced net income of $6.21B (last year’s first quarter: $4.55B) due to higher oil prices. Right now, the futures market is pricing in about a 79% chance that the Fed keeps rates between 0% and 0.25% through September 20th, 2011. Currently, the Ten Year yield is at 3.30% (3.32% yesterday) and the 2-10 yield spread is at 268bps, flattening 1bp since yesterday morning.
