Posted To: Pipeline Press

Originators, as Deb from Virginia reminded me, are currently like ducks: cool and calm on the surface, paddling frantically underneath. Originators like low rates, but not if their clients can’t qualify for a loan. Furloughs are becoming permanent for many companies. U.S. equity indexes might be trading substantially up on recent low points, mostly due to a few stocks, but bond market traders are sounding the alarm over the outlook for the U.S. economy. Not everyone is Quicken Loans, whose Rocket Companies’ S1 updated its 2nd quarter earnings: $3.5 billion of net income . The real yield on 10-year Treasuries has fallen to -0.85 percent since early June, pointing to weak economic growth which one trader says could prevail “for quite some time”. Currently the cost for investment-grade…(read more)

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Source: Mortgage News Daily