Industry News
Mortgage Industry News
Today's Market Color
12/22/2009
In the final reading for 3Q GDP, the US economy posted a 2.2% gain, less than previously reported. Greece's credit rating was downgraded only one level by Moody's, causing the debt to rally as a steeper dowgrade was expected; European equities and US stock futures are up. Right now, the futures market is pricing in an 86% chance that the Fed keeps rates somewhere between 0% and .25% through April 28th, 2010. Currently, the Ten Year yield is at 3.754%(3.60% yesterday) and the 2-10 yield spread is at 284bps, steepening 7bps since yesterday morning.
