Industry News
Mortgage Industry News
New Home Sales Report Later Today
07/26/2010
New home sales are due out later this morning and are projected to print near record lows. Several economists have revised their 3-5 year global growth forecasts downward from around 4.75%-5% to the 3%-3.25% range, dragging equities futures lower in early trading, while bonds are mixed. Right now, the futures market is pricing in an 85% chance that the Fed keeps rates at .25% through November 3rd, 2010. Currently, the Ten Year yield is at 3.029% (2.99% on Friday) and the 2-10 yield spread is at 239bps, flattening 2bps since yesterday morning.
