Stock market is going nuts and people are panicking due to the Corona virus but what is the impact on the mortgage industry? Things are moving super-fast and violently, that is not a good sign for interest rates and here is why lenders get interest rates that are set for the morning and they last about two days and it rechanges slightly on a daily basis. In the last couple of days there has been multiple changes per day meaning going higher and higher again and going lower and then going back to higher again. Interest rates are all over the place and the market out there is what sets interest rates for mortgages is making bigger moves in much shorter time that are going to catch people off guard. Stay tune to hear more!
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