Posted To: Mortgage Rate Watch

Coronavirus hit markets with unprecedented force in March. Stock prices and bond yields sank. When the outlook grew less dire, markets began moving back in the other direction. As quarantine measures ease, fear surrounding a second wave of COVID-19 is pushing back on the recovery in markets. Let’s quantify the fear using daily COVID-19 case counts in several key states. There’s no question that these trends are alarming at face value, but the implications can vary quite a bit due to increased testing. We can get a clearer sense of the risks by looking at hospitalization data. For example, the seemingly dire situation in California looks quite different based on LA County hospitalizations. Numbers remain elevated, but they’re not rising nearly as fast as case counts. In Texas and Arizona, however…(read more)

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Source: Mortgage News Daily