Coronavirus made for record-shattering movement in financial markets and economic data. With lockdowns ending, investors are eager to see improvements, but instead finding plenty of mixed signals.
Source: Kevin Litwicki MBSLIVE
Mixed Signals About Housing and Economic Recovery

There’s no shortage of bad news when it comes to the economy and the housing market. But that’s no surprise considering the circumstances. What IS surprising is how quickly some signs of recovery have emerged.
Source: Kevin Litwicki MBSLIVE
The Sun Also Rises For Housing and Mortgage Markets

Before coronavirus, the average 30yr fixed mortgage rate was almost always 1.6% to 2.0% higher than 10yr Treasury yields. When bond volatility was extreme (especially when Treasury yields were dropping quickly), that gap could be wider, but it was never even close to current levels. Why might this be?
Source: Kevin Litwicki MBSLIVE
All-Time Low Mortgage Rates!

Massive joblessness and overly-inviting wording in the CARES Act with respect to forbearances is creating the biggest surge in mortgage non-payment ever seen. Mortgage investors have quickly reevaluated what they’re willing to pay for certain scenarios. The greater the number of forbearance risk factors, the higher you can expect the rate to be, EVEN IF you personally don’t agree that the risk factor applies in your case.
Source: Kevin Litwicki MBSLIVE
The Truth About Skipping Mortgage Payments (And The Consequences)

Source: Kevin Litwicki MBSLIVE
Mortgage Rates Are Super Low, But Not For Everyone