An incredibly volatile week on the stock market spurred an all-time low for both the benchmark 10-year Treasury note yield and Freddie Mac’s 30-year fixed-rate mortgage average. A lot happened this week so let’s take a look at the highlights:
- Dow stays in correction due to virus fears and political primaries
- 10-year Treasury note yield drops below 1% for the first time ever
- Federal Reserve makes emergency rate cut of 50 bps
- Mortgage rates hit all-time low (Freddie Mac 30-year average)
- Jobs report
This week saw 1,000+ point swings in both directions for the Dow Jones Industrial Average.