Mortgage Market Guide's recap of what happened this week and why.
This past week, mortgage rates ticked up despite the 10-year Note hitting an all-time low of .31% on Monday. A couple of factors have created the bump up in rates, including absorbing incredible refinance volume into the mortgage backed security market. It is now likely the Fed will cut the Fed Funds Rate by a full 1.00% next Wednesday. It would be no surprise to see it sooner. We don't know where the bottom in rates is, but right now it is feeling like this past Monday.
Find out what this means for you, your partners, and you borrowers in this edition of the MMG Weekly Recap video.
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