MMG Weekly Recap 7/16/20

by Bill Bodnar, on July 16, 2020 at 5:24 PM

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

Homebuilders and homebuyers are feeling good. Home loan rates hit an all-time low of 2.98%.  Homebuilder Sentiment has returned to levels seen pre-COVID, supporting a V-shaped recovery in housing.

Stocks are moving in a volatile sideways pattern after last Monday's Bearish Engulfing Pattern.  The next directional move in Stocks can be fueled by many items: COVID, stimulus, economic progress, etc. If Stocks outright decline, we may see the 10-year yield break beneath .60%. The opposite is also true.

MMG Weekly Recap 16JUL20

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