Mortgage Market Guide's recap of what happened this week and why.
Mortgage rates hit all-time lows this week. Yield spread compression and sharper pricing were the drivers. There is a limit to how much lower rates can go if the 10-year yield doesn't move beneath .60%. We are currently watching the negative forces of cases rising in some states versus all of the positive optimistic undertones of states and businesses opening, stimulus as far as the eyes-can-see, pent up demand, household formation, low rates, and more.
Next week the Bond market has to absorb $130+ billion in new Bond supply along with PCE and Durable Goods on tap. This is a lot to follow when you factor all of the market volatility.
Find out more about what this means for you, your partners, and your borrowers in this week's recap video:
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