Mortgage rates forecast

Mortgage rates declined this past week, further continuing to help attract previously reluctant buyers back into the purchase market, according to Freddie Mac.

The Mortgage Bankers Association's forecast anticipates tremendous coronavirus stimulus-related debt coming on to the market.

The economic contraction will keep mortgage rates low for the foreseeable future.

Mortgage rates remained generally steady this past week, even with the continuing market volatility, and that is helping the purchase market, according to Freddie Mac.

Mortgage rates ticked up slightly this week, but whether consumers are able to take advantage of them for purchases and refinancings depends on who looks at the data.

Mortgage rates fell to their lowest level since Freddie Mac started reporting this data in 1971, as the coronavirus shutdown continued to play havoc with the economy.

Mortgage rates were little changed this week as the markets reacted positively to various economic measures coming out of Washington, according to Freddie Mac.

Mortgage rates slipped this week as the coronavirus keeps affecting the overall U.S. economy, according to Freddie Mac.

Mortgage rates remained flat from last week, but are expected to fall further as they continue to lag changes in 10-year Treasury yields, according to Freddie Mac.

Mortgage rates dropped for the second consecutive week, falling 17 basis points, but that is not attracting homebuyers back into an uncertain market, according to Freddie Mac.

The actions taken by the Federal Reserve to calm the financial markets was key to the drop in mortgage rates this week, according to Freddie Mac.

The $16 trillion U.S. mortgage market — epicenter of the last global financial crisis — is suddenly experiencing its worst turmoil in more than a decade, setting off alarms across the financial industry and prompting the Federal Reserve to intervene.

Mortgage rates rose sharply this week as originators looked to manage the overwhelming demand from consumers, according to Freddie Mac.

Impac Mortgage Holdings decided a year ago to emphasize its non-qualified mortgage lending operations and placed the company in position to succeed when the housing market returns to normal.

Increased refinancing volume led Fannie Mae to raise its 2020 estimate by $300 billion and 2021 projection by $280 billion.

Companies in the mortgage business were already focused on processing a lot of loans and generating efficiencies before the latest uptick in business hit.

Paradoxically, mortgage rates actually increased this past week, even as the 10-year Treasury yield plumbed new depths, likely because lenders are too busy to handle the influx of applications.

Mortgage lenders could benefit from the surge in refinancing due to widening market spreads, and that could help offset damage to servicing rights portfolio valuations, according to Keefe, Bruyette & Woods.

The 10-year Treasury yield fell below 0.5% and the 30-year yield dropped under 0.9%, taking the whole U.S. yield curve below 1% for the first time in history.

It's hard to overstate just how wild bond markets have gotten amid the coronavirus scare, forcing traders to rethink what's possible.