Posted by Apex Home Loans ● April 3, 2020

Madness in the Market: Updated Report April 3, 2020

Madness in the Market Blog Image

Friday, April 3, 2020

What's going on and why does it matter?
Mortgage bonds are continuing to drift sideways amidst more data highlighting the toll already being taking on lives and economies due to the coronavirus. The March jobs report came out this morning showing a net loss of 701,000 jobs last month, bringing an end to a historic 113 straight months of employment growth. Economic reports in Europe were also very weak, with key economic reports showing sharp declines. The Fed is once again scheduled to purchase up to $30 billion of mortgage bonds today in continuation of their bond-buying program.

What should you do about it?
Watch and see if mortgage bonds can hold their ground, but be prepared to lock your rate quickly if bond prices start to decline.

Market Update 4.3.1

Economic reports that may impact mortgage rates this week:

 

Market Update 4.3.2

Please be aware: by refinancing your existing mortgage, your total finance charges may be higher over the life of the loan.

Topics: Refinance, Interest Rates, Mortgage Interest Rates, home loan refinance, lower interest rate, Corona Virus, COVID-19

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