Industry News
Mortgage Industry News
Today’s Market Update
07/28/2011
The waiting game continues as treasuries wallow in a fairly tight trading range. Prices are modestly higher this morning, recovering some of yesterday’s losses that were prompted from a disappointing 5yr auction. The House of Representatives plans to vote today on a plan which, if passed, will likely meet stiff opposition in the Senate and shift the process to an even higher level of finger pointing and mudslinging. This morning’s release of the weekly jobless claims reports produced mixed results as initial claims were moderately better than expected but continuing claims were ever so slightly worse than expected. The June pending home sales report looms at 10AM. Currently, the 10yr yield is at 2.953% (2.964% yesterday) and the 2-10 yield spread is at 262bps, flatter by 3bps since yesterday morning.
