COVID-19-Lending and Margin Calls, Nyitray, Director of Cap Mkts-Ark Mortgage
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The bond purchasing program initiated by the fed along with the impact of COVID-19 has created extreme volatility in the 10-year treasury which influences long-term mortgage rates.\\xa0 Just this month, the 10-year ranged from 45 basis points to 1.2%.
As a result of the erratic bond movement, there has been a wave of margin calls by broker-dealers who sold hedges to mortgage bankers quickly eroding the bankers working capital.
Joining the podcast to discuss the mortgage market is Brent Nyitray, Director of Capital Markets at Ark Mortgage.\\xa0 Brent is also the author of the Daily Tear Sheet\\u2019s, \\u201cMorning Report\\u201d, a daily update on financial markets and the economy.
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