30-year Mortgage Rates Hit All-time Low As M2 Money Velocity Crashes To 1.097 (Powell’s Plunder Helps Stocks)

Yikes! According to the Federal Reserve of St Louis FRED, the velocity of M2 Money Stock (Nominal GDP / M2 Money Stock) just crashed to 1.097, the lowest in modern history.

As of today, Bankrate’s 30-year mortgage rate just hit an all-time low (thanks to The Fed’s massive reaction to Covid-19 virus economic shutdown. Note: Bloomberg has not updated its M2 Money Velocity chart which is now 1.097.

But stocks are soaring with The Fed’s QE.

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