Posted To: Pipeline Press

Remember the concerns of chaos prior to the UK leaving the European Union? Despite Brexit, the average London house prices increased 2.3% in 2019, the highest since 2017. In the rest of England, home prices were up 2.2% y/y. In this country, lenders’ pipelines are swamped as a surge in coronavirus cases outside China (highly transmittable, but fortunately not too virulent) has accelerated investors’ flight to havens, sending the 10-year US Treasury yield to 1.31% and the 30-year yield to 1.80%, both record lows. Mortgage prices have lagged, as they always do, and many lenders are extending out rate lock periods to deal with the influx of volume. Capital markets crews are keeping an eye on the future of the Agencies. Per Treasury Secretary Steven Mnuchin, the Treasury Department expects…(read more)

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Source: Mortgage News Daily