MMG Weekly Recap 6/5/20

by Bill Bodnar, on June 5, 2020 at 1:45 PM

Mortgage Market Guide's recap of what happened this week and why.

What a week. On Friday, the Jobs Report was supposed to report the worst numbers in American history. Instead, we ended up seeing 2.5 million jobs created, representing the highest monthly gain since 1939! Moreover, the unemployment rate was supposed to come in at 20%, but only rose to 13.5%. These numbers keep the notion of a "V-shaped" recovery alive.

Next week brings the Fed. Do they start talking about less stimulus? Watch 1% on the 10-year Note yield. Finally, the Jobs Report is so, so good for housing. Jobs buy homes, not rates. These great jobs numbers, should they continue, will help bring back non-QM and jumbo loans because default risk is eroding.

MMG Weekly Recap 05JUN20

Mortgage Market Guide members receive an extended version of this video that includes pipeline management strategies and lock/float recommendations.

To get access to this critical information and position yourself as the go-to market pro in your area, sign up for a free 14-day membership today when you click here!

Topics:Mortgage Market GuideJobs ReportMMG Weekly RecapMarket IntelligenceMortgage RatesEconomyUnemploymentFedcoronavirus


About the Blog

Subscribe now to keep up to date on the current state of the market. Always know how to advise your clients and partners.

Subscribe to Updates