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The coronavirus floating on top of downward economic charts. Source: Shutterstock.

CUNA Mutual Group’s latest report said lower interest rates are being driven by the market’s expectations that Americans will take longer to reach herd immunity from COVID-19 than previously expected.

In February, CUNA and CUNA Mutual Group forecast the 10-year Treasury rate would rise from 0.90% in 2020’s fourth quarter to reach 1.50% by this year’s fourth quarter. Its April forecast raised the estimate to 2% by this year’s fourth quarter. Its June forecast showed no change.

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Jim DuPlessis

A journalist for decades.

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