MMG Weekly Recap 5/15/20
by Bill Bodnar, on May 15, 2020 at 12:41 PM
Mortgage Market Guide's recap of what happened this week and why.
This week was filled with a bunch of bad news and uncertainty which put a dent in Stocks and gave a modest boost to Bond prices. Once again, rates have been held back by support at .60% on the 10-year yield, a level where the yield has only closed beneath a couple of times ever.
Next week is important. The funding for the enormous stimulus package begins by way of a new 20-year Bond. At the current pace of selling and size of stimulus, we will see additional monthly 20-year Bond offerings for over 10 years. And guess what? Expect much more stimulus required to help the economy, maybe double the current $3 trillion.
Find out what this means for you, your borrowers, and your partners in this week's video recap:
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