This is a A parts off the market reaction, actually.

Thio, What's going on in the global economy this morning?

And the Corona virus?

You know, the mortgage rates are set by what's going on in the bond market.

That's where the banks get their signals and what's happened since the over the past few weeks while we had the Bank of Canada lowering economic growth expectations in its first policy announcement of the year.

And then you've got the Corona virus mixed in and money has been flowing from the stock market into the bond trade brings down yields.

Guess what?

The banks are adjusting their mortgage rates accordingly.

Now, it's not by much 1/5 of a percent here and there, but we're below 3% again on the five year posted rates, and you know some of the special rates, or even much below that. 00:01:0.240 --> 00:01:7.050 So it kind of sets the stage here for the housing market in the spring time if borrowing costs come down. 00:01:7.050 --> 00:01:18.570 You know, this was the talk that once the spring selling and buying season starts, then we could even see Mork competitive issues in the mortgage market, which will just fuel things that much further, more.

And this morning, I'll tell you.

Roger, we've got the Dow futures down.

230 points.

International markets are down.

Bond yields are gonna come down again today.

So this might be again the start of off more of a trend to lower borrowing costs in the near term.

All right, which will With this housing market.

I was talking to a friend of the real estate in the realty business, and she said There's nothing on the market and houses air going for way over asking right now and put even more pressure.

Of course.

Right.

It just fuels it that much more.

All right, Michael.

Thank you, sir.

Have yourself a great day.

Okay.

You too.