Mortgage Market Guide's recap of what happened this week and why.
What a turbulent week. Pfizer's vaccine announcement was a game-changer. Markets tend to overshoot, and they have, as both Stocks and rates are well off the highs seen on Monday. We have to be mindful that the vaccine news will continue to be a headwind for Bonds and rates.
COVID-19 cases are rising, yet financial markets are looking three to six months down the road where we see mass distribution of a vaccine. More stimulus and Fed action will be coming to further support the economy.
Find out what this means for you, your partners, and your borrowers in this week's recap video:
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