MMG Weekly Recap 3/6/20
by Bill Bodnar, on March 6, 2020 at 1:29 PM
Mortgage Market Guide's recap of what happened this week and why.
This week we discuss the ultra-safe haven trade into the Treasury market. Mortgage Bonds have not participated in the same pricing gains, suggesting there is a limit to how low home loan rates can go. MBS pricing has been unable to make meaningful gains in the face of a 2000 point Stock loss in the last 48 hours.
As they say, "don't fight the Fed." The Fed is going to be cutting rates again March 18th in an effort to keep the "animal spirits" of the consumer alive and ward off any decline in household spending.
Lastly, the Jobs Report was a blockbuster and should provide a cushion as we enter an uncertain time with the coronavirus.
Let's take a look at what that means for you, your borrowers, and your partners in this week's MMG Weekly Recap video:
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