Mortgage News

Market Update - April 3, 2012

April 3rd, 2012

A great quarter is coming to an end. Stock markets have rallied consistently since the turn of the year with no significant pull back. This is the best opening quarter since 2000. On the other hand, U.S. Treasury yields rose dramatically based on a strong U.S. economy that surprised on the upside. Many thanks to Ben Bernanke, who calmed the market’s with rhetoric that has muted speculation that the Federal Open Market Committee could move a rate hike closer than 2014. The Fed is determined to keep all options open in case the U.S. economy takes a turn for the worse. Today the bell whether 10 year is at a yield of 2.17.

- George Moore, Senior Vice President, Tidewater Home Funding, LLC