MMG Weekly Recap 7/9/20
by Bill Bodnar, on July 9, 2020 at 11:42 AM
Mortgage Market Guide's recap of what happened this week and why.
Mortgage Bonds have been showing a string of green candles each of the past few weeks, which means prices are closing higher from where they opened. At the same time, we are seeing historic buying demand in Treasuries with the yield hitting an all-time auction low of .65%. The United State's relative outperformance with the rest of the world will continue to be a tailwind for interest rates. With negative rates around the globe, our .65% 10-year Note yield looks pretty darn frothy. The Fed has a dual-mandate of maintaining maximum employment and price stability. With employment too high and inflation too low, the Fed will remain "accommodative" and rates will remain relatively low for quite a bit longer.
Find out what this means for you, your borrowers, and your partners in this week's recap video:
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