August 8,2019 The trade tariffs have left the financial markets across the world on a rate reduction and currency devaluations! 10 year treasureies are around 1.75% just a tad higher than the lowest. But where do we go from here!? USA increasingly appears to be the 'safe haven' and funds have promptly flowed back to shore the stock market.
The recent Fed cut seems to be baked in the lowering mortgage rates throughout 2019. Mortgage rates have dropped a bit and not resulted in a full scale refinance boom. Many borrowers that purchased from mid 2018 are experiencing lower appraisal values and thus preventing refis.
With the refinancing activity most lenders are now backed up a bit and jumbo loans are taking 45 days.