Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

Mortgage rates set a new all-time low record

Mortgage rates set a new all-time low record

FromHousingWire Daily


Mortgage rates set a new all-time low record

FromHousingWire Daily

ratings:
Length:
6 minutes
Released:
Jul 2, 2020
Format:
Podcast episode

Description

In today’s Daily Download episode, HousingWire covers  Freddie Mac’s Primary Market Mortgage Survey that shows mortgage rates have now fallen to a new all-time low.For some background on the story, here’s a summary of the article:Mortgage rates dropped to a new all-time low in the U.S. this week as a resurgence of COVID-19 infections caused investors to pile into the bond markets.The average rate for a 30-year fixed mortgage was 3.07%, the lowest in a data series that goes back to 1971, and down from 3.13% last week, Freddie Mac said on Thursday. The average 15-year rate fell to a seven-year low of 2.56%, according to the mortgage financier. Bond yields, used as a benchmark by mortgage investors, have fallen to near-record lows over the last week on news of a resurgence in COVID-19 infections, erasing hopes for a V-shaped recovery that would have the economy rebounding quickly from the virus-induced recession. States including Texas, California and New York have either paused reopening plans or reversed course to stem the spread of COVID-19. “The spread of the virus is worsening in almost every state,” Goldman Sachs economists said on Tuesday. “Over half of the US has now reversed or placed reopening on hold.” Following the main story, HousingWire covers a prediction from the Federal Open Market Committee that the COVID-19 pandemic will worsen in the second half of 2020, and Realtor.com’s weekly Housing Market Recovery Index that shows signs of recovery in the housing market.The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.HousingWire articles covered in this episode:Mortgage rates fall to new all-time low this weekFOMC worried virus resurgence will trigger new spike in layoffs, minutes showHousing market recovery: things are looking up
Released:
Jul 2, 2020
Format:
Podcast episode

Titles in the series (100)

HousingWire Daily examines the most compelling mortgage, real estate, and fintech articles reported across HW Media. Each afternoon, the HW team provides our listeners with a deeper look into the stories that are helping Move Markets Forward. Hosted and produced by the HW Media team.