Rates Move Swiftly Lower Due to New Covid Variant

Just when it looked like the current week would fizzle out on a negative note for rates, our least favorite market mover is back in the news. 
B.1.1.529 (designated now as “Omicron”), a new covid variant hit the market like a ton of bricks on Friday morning.  48 hours earlier, Google had never heard of it.  Search interest began to ramp up on Thanksgiving Day.  By Friday, it’s an utterly pervasive headline.
With financial markets closed for Thanksgiving, there was an abrupt reaction upon reopening for the half-day on Friday….(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed