Mortgage Market Guide's recap of what happened this week and why.
The Fed is pushing everything higher, except rates! The largest economic shock ever in U.S. history has been followed by the largest policy response in history. As a result, Stocks, precious metals, and Bonds were higher and rates hit historic lows. The 10-year Note at .51% is the lowest "closing yield" since George Washington crossed the Delaware River. The Fed is likely to pull even more tools out of the toolbox, including Yield Curve Control. Bottom line: The recovery will take time and we should expect low rates for a very long time.
Find out more in this week's video recap:
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