How Will The #Coronavirus (COVID-19) Impact The Housing Market?
Just two weeks ago the mortgage rate hit a low of 3.56 for a 30 year fixed rate. Typically, mortgage rates track with the 10-year Treasury note, but this has changed over the last few weeks. Since the markets have been more volatile than normal due to people moving money into safer asset classes like treasuries which is driving down the yields. Due to the low interest rate many homeowners and buyers are taking advantage of the market. The run on refis have a major effect on the rates.
Since the Coronavirus (COVID-19) caused massive #global uncertainty, including Global and U.S. stock market correction no one could have seen coming. This has impacted all of us. This has impacted families around the world. This evil virus has no regard for race, gender, sexual orientation, religion, or political leanings.
We must lean on each other and be kind and respectful. This is a time to come together. We will win over come this challenge like we have through out history.