Mortgage Market Guide's recap of what happened this week and why.
Mortgage Bonds and Treasury prices were able to recover from the midweek selloff. MBS found support at the 50-day moving average and the 10-year yield pushed back lower from resistance at .72%.
There is a lot of optimism heading into this long weekend. We are still watching to see how states open and if there is an increase in cases. It's a little early right now, but at the moment we are not seeing a resurgence of cases. This is welcome news, and if it continues, would be a proxy for the rest of the country.
Find out more about what this means for you, your borrowers, and your partners:
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Have a wonderful Memorial Day weekend and be safe.