4/30/10

For those watching the mortgage markets, yesterday was pretty quiet relative to Tuesday and Wednesday. The 7-yr Treasury Note auction went well, with yields coming in about at market. The news out of Greece didn’t seem to shake up the markets too much as that country readied severe austerity measures to secure a multi-billion euro aid package needed to avoid default, providing relief to financial markets but drawing threats of a battle from Greek unions. For economic news today there are no auctions or policy speeches. At 8:30AM EST we had Real GDP. 1st Quarter Advance GDP number came in at +3.2%, less than expected, but +3.6% on consumption, stronger than expected. Mortgage rates are roughly unchanged. Have a great weekend.