Mortgage News Weekly 7/6/20

In This Issue…

A Look Into the Markets

Economic Calendar for the Week of July 6 – July 10

A Look Into the Markets

This week was another reminder of how fundamentals and technicals drive both Stocks and Bonds.

Fundamentally, the “tug of war” between the uncertainty of rising virus cases and the many positive themes, including talk of more stimulus, is driving the financial markets. The introduction of more stimulus, which will help further underwrite the economic recovery, will help both Stocks and Bonds — but Stocks more.

Technically, we watched mortgage-backed securities “test” 2020 price highs and edge lower while the 10-year Note yield was unable to move beneath .60%. The S&P 500 made an impressive bounce off of its 200-day moving average.

Bottom line: Home loan rates remain near all-time lows and the economy continues to repair itself from the shortest and deepest recession in American history. Now is a wonderful time to either refinance or purchase a home.

Economic Calendar

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