A message from our new vendor, Cross Country Mortgage

by | Mar 3, 2020 | Updates

All Active and Retired Members:

Recent headlines have been all about virus outbreak/containment, and it’s impact on global economy and our stock market. The most important factor for home owners, it’s impact on bond markets is one that has been missed. Mortgage rates are based on bonds and mortgage backed securities, both factors are effected by how the stock market and global markets move.

Because of the downturn in the stock market the Federal Reserve Chairperson has just announced an emergency rate drop to the Federal Fund Rate. Although this does not directly impact interest rates it will certainly cause another shockwave to the stock market and possibly push mortgage, personal loan, and credit card rates even lower. For most, a home is/will be the biggest investment you make, we encourage members to look into how the current market can improve your financial situation.

Below are two charts to visualize how the bond markets which impact mortgage rate most have been impacted:


***Please note, Mortgage Bond Securities (MBS/shown above) have a reverse effect, the higher the yield, the lower the rate. Unlike bonds (shown above as 10 YR Treasury Note), the lower the price, the lower the rate*****

Cross Country Mortgage is a National lender able to help with your home in any state, active or retired, and you will pay no bank fees. Recently they have added the benefit of refunding your appraisal fee at closing.  

Give them a call at 718.639.5626/833.724.8700 or email them at  

Juan Pablo Munoz
Originating Branch Manager – Affinity Lending


CrossCountry Mortgage, LLC
41 Pinelawn Road, Suite GL-2
Melville, NY 11747
Personal NMLS19351 Branch NMLS1681501
Company NMLS3029