Industry News
Mortgage Industry News
Unemployment Rate Falls
03/05/2010
Nonfarm payrolls printed better than expectations, -36K vs. -68K consensus. The unemployment rate fell to 9.7%. The U6, which includes part-time workers who can't find full-time employment and people who have stopped looking for a job, climbed from 16.5% to 16.8%. Right now, the futures market is pricing in an 85% chance that the Fed keeps rates somewhere between 0% and .25% through June 23rd, 2010. Currently, the Ten Year yield is at 3.687% (3.63% yesterday) and the 2-10 yield spread is at 275bps, flattening 4bps since yesterday morning.
