Market Snapshot August 12, 2019
Good Monday A.M.,
There is no data today to speak of (we will get inflation and housing data a little later in the week). Bond yields are improving this morning though on growing concerns that a trade war will trigger a recession. The 10-year yield is 10 bps lower at 1.65%, lowest since early-October 2016.
The R word makes everyone nervous. Let’s hope this week we see some spillover into mortgage rates. It’s not a given but I’m leaning that way.
From the annals of ‘we can lose on each deal, we’ll just make it up in volume’… Zillow shared in its last quarter, $248.9 million of the data company’s $599.6 million in revenue came from buying and selling homes directly. The company bought 1,525 homes from April to June in 15 markets, and sold 768 homes, losing $71 million.
Make today great!