Posted To: Mortgage Rate Watch

Markets continue to focus on coronavirus numbers first and foremost. When the news is good , we tend to see stocks and rates move higher. When the news is bad , rates tend to fall and stocks struggle to improve. The movement is usually more pronounced for stocks. When it comes to rates, however–especially mortgage rates–recent volatility is taking place at a microscopic level compared to recent months. This could continue to be the case until we get a much clearer sense of how the pandemic will likely evolve in the context of our attempts to reopen the domestic economy. Until that happens, of all the places to be flying in a relative holding pattern, this is as good as it gets for mortgage rates. When coronavirus first hit the bond market, it was US Treasuries that responded most convincingly…(read more)

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Source: Mortgage News Daily