Mortgage News Weekly 12/29/20

Season’s Greetings

Another year, another season. As we round out 2020 with the markets closing early this week, I welcome the Mortgage Market Guide Weekly Holiday Edition. We wish you and your family a joyful holiday season.

Your traditional full issue will arrive next week as we take a look into the markets moving into 2021.

Mortgage Market Guide Weekly is the industry’s leading publication of this type, and I’m pleased to provide this valuable resource to you. If you feel that any of your colleagues or associates would benefit from keeping up to date on the market and economic trends with this easy-to-read format, please let me know and I will be happy to add them for a free trial.

A Look Into the Markets

“The path of the economy will depend significantly on the course of the virus” — Fed Monetary Policy Statement each month since July 2020.

As 2020 draws to a close, we are still seeing stocks right near all-time highs and mortgage rates at all-time lows — a Goldilocks situation, which helps the economy.

The government is doing what it can to keep these conditions in place as we enter 2021. The Fed continues to purchase $120B in bonds every month to keep long-term rates, like mortgages, low. And Congress was able to step up and deliver a $900B stimulus bill this week.

With COVID cases spiking and more lockdowns and restrictions coming, there is near-term concern about longer-lasting economic harm.

The good news? The Fed recently said they will use whatever tools necessary to help with their mandate — maximum employment and price stability. And there is already chatter about another stimulus plan coming sometime early in 2021.

Bottom line: Rates are at historic lows. With vaccine distribution and more stimulus on the way, it may be difficult to see rates improve much, if at all. If you or someone you know would like to talk about the incredible opportunity, please contact me.

Economic Calendar

For the Week of December 28 – January 1

The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services, and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is without errors. As your mortgage professional, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you. Mortgage Market Guide, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Market Guide, LLC does not grant to you a license to any content, features, or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.