President Donald Trump put Vice President Mike Pence in charge of the coronavirus response unit yesterday. The number of Americans infected by COVID-19 may not be as high as it is in China or Italy, but the virus is clearly affecting the financial industry. Ed Currie (Certified Mortgage Planner & Construction Loan Specialist at Associated Bank) joined Steve Grzanich in studio to talk about the impact of coronavirus on the mortgage and construction industries in particular. He points to the significant selloffs and how money is funneling into U.S treasuries and mortgage bonds which has dropped yields and lowered interest rates. Later in the Associated Bank Thought Leader conversation, Ed describes the difference between a construction loan and regular mortgage.
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