In the U.S. mortgage market, what counts as good news for consumers isn’t always good news for investors, and vice-versa. The pandemic has scrambled those equations even more than usual. That’s meant disappointment for some homeowners and homebuyers, relief for others, strong gains for some investors and potential losses for others, as the mortgage market grapples with the impact of both the economy’s sudden contraction and government steps meant to cushion the shock.
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