Posted To: Pipeline Press

Some days you don’t learn much, other days you learn a lot (skip the ad). We’ve learned that COVID is driving our economy, not fundamental economic news, and at this point virologists have better forecasts than economists. Appearing with Treasury Secretary Mnuchin today before Congress, it is believed that Fed Chairman Powell will state that there won’t be an economic recovery until the threat disappears. We are reminded that low rates come with a cost . Temporary layoffs can easily become permanent reductions. I’ve learned that many lenders are having their best June ever , volume-wise, and I’ve heard some say their June income could equal up to six months of income during a “normal” period. Margins are high in an effort to continue to control volume…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: Mortgage News Daily