On Friday, the U.S. Treasury had higher yields as investors hoped that a fiscal stimulus deal would be forthcoming from Congress.
The White House will increase the coronavirus stimulus offer to $1.8 trillion, which is about $400 billion less than the $2.2 trillion stimulus bill passed previously by the Democrats.
The bond prices continue to be capped by rising stocks. The market looks to D.C. and hopes a stimulus package from Congress is on the way.
Mortgage bonds and Treasury prices are near unchanged as the 10-year yield stuck at .77%. Stock futures have had a modest increase.
Today, the Feds will be purchasing mortgage-backed-securities up to $3.808B. The Fed’s commitment to buying has created this incredible interest rate that should fuel housing for the foreseeable future.
Since uncertain news or headline risk can quickly change, making it tough to manage your pipeline. Locking, closing files as soon as possible are still recommended, and don’t miss this opportunity. |
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IMPORTANT: Advertised rates were valid and effective as of the date reflected above, are for informational purposes only, and are subject to change without notice.
Loans are subject to credit and collateral approval. Advertised rates are based on a set of loan assumptions including a borrower with excellent credit history and optimal loan characteristics. Your final interest rate and annual percentage rate (APR) may differ depending on your individual transaction’s specific characteristics, and certain products may not be available for your situation. Several determining factors include, but are not limited to, the state of the property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value, and credit score.
APR reflects the cost of credit over the term of the loan expressed as an annual rate. For mortgage loans, APR may include the interest rate, discount points (also referred to as “points”), and other charges or fees (such as mortgage insurance and origination fees), but does not necessarily take into account other loan-specific finance charges you may be required to pay. |