Posted by Apex Home Loans ● March 25, 2020

Madness in the Market: Updated Report March 25

Madness in the Market Blog Image

Wednesday, March 25, 2020

Market Update 3.25.1

What's going on and why does it matter?
Mortgage bonds are trading higher this morning after the White House and Senate leaders reached a $2 trillion stimulus package overnight to counter the impact of the coronavirus. The Senate is expected to vote on the bill today, and the House still needs to approve it before the President's signature. The Fed is scheduled to continue its massive bond-buying program today. In fact, since the March 16 restart of its bond-buying program, the Fed has purchased a staggering $130.168 billion of mortgage bonds. with another $50 billion scheduled to be purchased today.
What should you do about it?
Watch for mortgage bonds to remain in positive territory, but be prepared to lock your rate quickly if the market changes directions.

Economic Calendar

Economic reports that may impact mortgage rates this week:
Market Update 3.25.2

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