Wednesday, April 1st, 2020
In these tough times, a rare silver lining has come in the form of mortgage refinancings. Where rates are headed is anyone’s guess because these are unprecedented times and markets are reacting in ways nobody has ever seen. Though historically low 10-year Treasury yields should coincide with plunging mortgage rates, other factors, including investors pulling money out of mortgage-backed securities amid a broad asset selloff, caused rates to tick up recently. Some lenders are so overwhelmed with refi requests that they are slowing the flow of business by raising rates. The dynamic situation requires that borrowers get ready to act […]
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Tuesday, March 3rd, 2020
Federal Reserve Chairman Jerome Powell signaled on Friday that the central bank is prepared to cut interest rates if needed. “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity,” Mr. Powell said in a statement released Friday afternoon. “The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.” The Fed used similar language last June to indicate it was prepared to cut interest rates if needed after the U.S.-China trade war threatened to aggravate a […]
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Friday, November 1st, 2019
Mortgage rates rose Friday after data showed the economy added more jobs than expected last month, a sign of ongoing growth. The yield on the benchmark 10-year Treasury bond rose, snapping a three-session streak of declines, settling at 1.727% compared with 1.672% before the report and 1.691% Thursday, according to The Wall Street Journal (WSJ). On Friday the Labor Department said the U.S. added 128,000 jobs last month, more than the 75,000 expected by economists surveyed by WSJ. The agency also revised data from August and September to reflect gains of 95,000 more jobs than had previously been estimated. Some […]
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Keegan Mortgage Corporation
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