At Centennial Mortgage we are thankful for many things. We have an amazing team of people that work hard every day – both on the job and with their families. May all of you have a safe and Happy Thanksgiving.
Over the weekend the election was called in favor of President-Elect Joe Biden ending a heated campaign season. Eliminating political uncertainty along with Pfizer having 90% success with a Covid-19 vaccine has buoyed the equity markets worldwide to new highs. With so much upside in stocks, money has flowed out of treasuries causing rates to spike.
The Centennial Mortgage, Inc. (CMI) team is pleased to celebrate the Service Anniversary for Brian Lorenz. Brian Started with CMI in November of 2014 as a junior underwriter.
Mr. Watkins has over 24 years of experience working in the commercial real estate industry. He is a seasoned affordable housing professional/HUD loan originator with a background underwriting loans with LIHTC, Tax-Exempt Bonds and other public and private loan and grant resources while working with the Illinois Housing Development Authority (IHDA).
Politics are front and center this week as the Republicans and Democrats discuss further stimulus before the Tuesday, October 20, 2020 deadline imposed by House Speaker Pelosi. The stimulus is broadly believed to be necessary to avert a severe downturn in the economy. The current 10 year treasury is at .77%.
The 10 year US Treasury rate fell on news that Johnson & Johnson have stopped trials of their Covid vaccine due to a patients illness. In addition, a stimulus package looks increasingly unlikely to pass before the election which will drag on the current recovery.