MMG Weekly Recap 10/2/20

by Bill Bodnar, on October 2, 2020 at 10:48 AM

Mortgage Market Guide's recap of what happened this week and why.

President Trump and First Lady Melania testing positive for COVID-19 rocked the global markets overnight. Then at 8:30 a.m. ET, a soft-headline Jobs Report suggested the pace of job gains are slowing.  Normally, all of this uncertainty would cause rates to decline, but instead yields ticked up! This is because both of these headlines put enormous pressure on Congress to agree on a fresh stimulus plan.

A new plan brings three things Bonds don't like:

  1. Additional supply
  2. Elevated inflation fears
  3. Aid to economic growth

Find out what this means for you, your borrowers, and your partners in this week's recap video:

MMG Weekly Recap 02OCT20

MMG members receive an "insider" version of this video that includes pipeline management strategies and lock/float recommendations delivered straight to their inbox every week.

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Topics:Market analysisMortgage Market GuideMMGMMG Weekly RecapStocksMarket IntelligenceMortgage RatescoronavirusBonds


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