Industry News
Mortgage Industry News
Today’s Market News
09/09/2011
The yield on the 10yr continues to hover near 2.00% as yesterday’s headlines and activity earned a muted response. President Obama’s job stimulus package was slightly larger than expected but contained no real surprises. The speech hinted at a national refinance program but the brief mention contained no concrete details or specifics. In terms of actual economic data, this week’s calendar has been light and today is no exception. The calendar will likely end with yawn as the July US wholesale inventory report is expected to produce slightly better results of a +0.7% vs June’s +0.6% increase. Currently, the 10yr yield is at 2.005% (1.986% Thursday) and the 2-10 yield spread is at 1.82 bps, steeper by 3 bps since yesterday morning.
