Market Update

Mortgage rates hit historic lows as Dow rollercoaster continues

     
Mortgage rates hit historic lows as Dow rollercoaster continues

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

Stock Market

This week saw 1,000+ point swings in both directions for the Dow Jones Industrial Average.

Continue reading Mortgage rates hit historic lows as Dow rollercoaster continues at Movement Mortgage Blog.

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