The stock market took a hit this week as investors continue to digest the effects of the spread of the COVID-19 Delta variant as well as the idea that the Federal Reserve will start to taper its bond purchases potentially as early as September.
The Fed started buying $120 billion worth of Treasury and mortgage bonds per month at the onset of the COVID-19 pandemic. This, along with reducing the overnight lending rate to 0%, has helped keep mortgage interest rates at historic lows.
Continue reading Markets prepare for tapering from Federal Reserve at Movement Mortgage Blog.
from Movement Mortgage Blog https://ift.tt/3j5F3mU
via Naza Finance Blog
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