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Mortgage Rates Rise for the First Time in Weeks

July 23rd, 2020 2:57 PM by Kemmer Daniel Matteson

Mortgage Rates Rise for the First Time in Weeks

While housing demand continues to rebound, the month-long swoon in economic activity has caused the 10-year Treasury benchmark to drop. In the short-term, this means the demand will continue on the back of near record low mortgage rates. However, the most recent consumer spending data has been pointing to slow growth since mid-June. The concern is that the pause in economic activity will cause unemployment to remain elevated which will lead to longer-term labor market distress.

Posted by Kemmer Daniel Matteson on July 23rd, 2020 2:57 PM

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