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Mortgage Rates Head Back Toward Long-Term Lows

Posted To: Mortgage Rate Watch

Mortgage rates are starting the new week off on a stronger note after concerns over coronavirus impacts moved markets over the weekend. While coronavirus won't spell the end of humanity, it will undoubtedly have an impact on global commerce. This was reinforced over the weekend as Apple warned that sales would be impacted. That's a fairly high profile endorsement of fears that skeptics had been downplaying for weeks. When investors account for a slower global economy or even something as simple as "uncertainty," we generally see less of a willingness to buy stocks accompanied by increased demand for bonds. As demand for bonds increases, bond prices rise and bond yields fall. Bond yields are tantamount to "interest rates." While the coronavirus epidemic may fall out of the spotlight in the coming...(read more)