Colorado Home Mortgage Banking

I am off to a late start today, sorry about that.  Today’s Colorado Mortgage rates should see rates increase slightly based on the economic news and the close of the futures market early this morning.  As stated before the real battle until the 27th is whether or not Colorado Mortgage rates will be impacted by bad economic news or the fear of inflation.  Colorado Mortgage loan programs are impacted in there locking ability by the Mortgage Backed Securities market which hates any mention of inflation.  We have seen a number of economic reports come out in the last few weeks most of them indicating a slow down in the economy which as sehnt Colorado Mortgage rates to its lowest points of the year.  The lack of activity created by the fact that Economic reports are limited this weeks has investors looking at other sources to get the jump on the rest of the market.  Although Colorado Mortgage investors tend to be conservative, none of them want to fall short when it comes to their investments.  So when the media begins to talk about inflation of if economic data of any kind comes in good, Mortgage backed securities drop and the interest rates increase.  You should still be able to get into a good Colorado Mortgage loan for under 6% just about anywhere, as long as your broker does not price it too high.  I locked a couple people today at 5.5% and will be quoting people this afternoon around 5.625%-5.75% depending on how much further the Securities market drops.  Although there seems to be very little activity with Mortgage Backed Securities the activity currently showing has driven Colorado Mortgage rates up.  The biggest news of the day came in New home sales that came in .05% higher then expected sending a small sign of good economic news in the future.  On the 27th we should get a big snap shot as GDP numbers are released, which is the biggest indicator on Recessionary pressures.  Recommendation for your Colorado Mortgage loan is to: LOCK for the short run if you want to gamble on bad ecomonic news to come then,  feel free to float.  The risk reward for Floating does not appeal to me, yes you might save an 1/8th or even a 1/4 off your rate in the next week, but if the news is positive and the media begins to talk about how great a job the Federal Reserve has done to stop recessionary presures then your rate will increase quickly.  Colorado Mortgage Rates are low and locking in will be the only guarantee to have the rate you were looking for. 

Did you know that you can give yourself a $4000 a year raise by having a mortgage?  Just a quick note in this article I will refer to a home mortgage as a Colorado home equity loan in order to keep my search engine optimization guru’s off my back.  Yes you can give yourself a $4000 a year raise by simply owning a home and by having a Colorado home equity loan (mortgage:-))  A Colorado home equity loan is one of the last simple deductions you can make as a middle class American.  As a home owner with a Colordo home equity loan you can deducte all of the interest paid through out the year.  You can also deduct orgination points from your closing.  You can ask me more about that later.  Here is how it works, lets say you have a house payment of $1500 you will probably see that your house payment on your Colorado home equity loan is broken down into several parts.   Typically your Colorado home equity loan (mortgage) collects for Principle/interest/taxes/insurance/and mortgage insurance.  Your Mortgage insurance and your interest are both tax deductable.  and on a $1500 payment it will probably account for about $1200 total on your Colorado home equity loan (mortgage).  When you multiply that out over 12 months you would have paid $14400, Uncle Sam lets you deduct that from you income which will reduce your tax obligation about $4300.  If you claim zero or one on your W-4’s Uncle Sam takes this from you and returns it in a refund.  My advice is to take it back and use it on a monthly basis.  A rule of thumb when trying to calculate how many deductions to take because of your Colorado home equity loan is:  For every 3000 in interest you pay you can claim one addition deduction putting the money back into your pay check monthly.  In this case, because of your Colorado home equity loan you can have a total of 6 deduction including yourself.  What does that do for you well it will limit what Uncle Sam takes out on a monthly basis putting more money in your pocket.  It is that simple.  So next time you look at buying and you have a maximum payment in mind imagine what you can afford if you add $300 to your income, it could put you in the home of your dreams. 

Bad Colorado credit home loan programs have been available in our market for as long as I can remember.  Lenders became even more aggressive 3 and 4 years ago, finally letting up about a year ago.  These Bad colorado credit home loan programs did serve a purpose, but only if the mortgage broker knew what the impacts of a Bad Colorado credit home loan.  These loans were what I referred to as a temporary relief program designed to get out of in 2 or 3 years depending on how long the short fixed rate period lasted.  Bad Colorado credit home loan programs are often referred to as Subprime loans.  These Bad Colorado credit home loan programs have an adjustment period 2 or 3 years after the loan orginated.  Once the fixed period expired these Bad Colorado credit home loan programs will adjust 2% every 6 months until they hit the market cap rate which is around 10%.  These loans were good to get high risk buyers into a home who previously could not qualify for a loan however credit counseling would be manditory to avoid the risk of future foreclosure situations.  This is where we in the mortgage profession failed.  I made it a point to follow up with these clients at least 10 -12 times a year and when the counseling is effective clients only needed to have a clean credit history for one year to qualify for a FHA loan.  FHA loans are fixed for 30 years and have a rate around 5.5% today, much better then the Bad Colorado credit home loan rate around 6.5% even during the best of times.  Another obsticle in refinancing today comes in the value of the home, but FHA requires only 5% equity and provides a perfect solution to Bad Colorado credit home loan programs offered in the past.  Congress also passed a program that will even help people currently situated in a Bad Colorado credit home loan program with current mortgage lates or if you are currently behind on your mortgage.  There is a condition the lates on the mortgage must have appeared after the adjustment period.  It is designed for Bad Colorado credit home loan programs that have adjusted out of control.  Long story short talk to someone who knows the industry, who understands the programs and a person who can offer you a solution.  I won’t say that these Bad Colorado credit home loan programs are bad, the served a purpose and allowed more people to enter home ownership then ever before, but with this came a responsibility that those that need a program like this needed to focus on their credit during the fixed rate period, if not your bad Colorado credit home loan became more of a liability then and asset.  Please take time to visit my other two websites www.coloradohomemortgageloan.net which holds my 2nd blog site, and www.nostresshomeloans.com which has all the primary information to include my bio.  Have a great day:-)  I hope the weather gets better soon summer is my favorite time of the year:-)

Daniel

Today will continue to be a slow day, most Colorado home lending institutions are closed for business.  We will begin to update more information on Monday and a new set of Colorado home rates will be available.  I hope that you will spend time with family and friends I know I will have my Colorado home filled with easter eggs for my little one to enjoy.  I will be going into more detail tomorrow as it relates to the verity of Colorado home programs of the past and how these programs are effecting foreclosures on the Colorado home markets.  We have some economic reports to watch for GDP and Durable goods reports will both have moderate Colorado home mortgage rate impacts.   Have a nice evening and if you are watching Sunday’s March Madness basketball watch out around 145 on CBS our Colorado home mortgage Commercial will air.

Most lenders cut off locking Colorado home mortgage refinance options early today due to the closure of the markets.  The next couple of buisness days will be very slow for Colorado home mortgage refinance options.  In observation of good friday Mortgage Backed Securities will not be traded nor will any other financial markets be available.  If you currently have a Colorado home mortgage refinance going on you probably did well with your interest rate if you locked this week.  We had some highs, but for the most part Colordo home mortgage refinance rates stayed steady.  This week end I will go into some detail about the state of the financial lending markets and how Subprime loans are being looked at.  I am starting to see people call me that entered into a Colorado home mortgage refinance 2 or 3 years ago due to their interest rates resetting.  The biggest obsticle we face in our market today for Colorado home mortgage refinance are the home values and the fact that they have not appreciated.  If you have time check out a free value automation site www.zillow.com it is not the most accurate, but it will give you an idea if we are in the ball park to make your Colorado home mortgage refinance an option.  Looking ahead at rates we have some economic reporting taking place next week.  GDP will be released and this is the indicator used to see if we are in fact in a recession.  Durable goods report will also be watched next week giving us some type of indication on where durable goods orders are being taken and delivered.  This will be a sure sign of which direction the economy is heading in the months to come and can have an impact on what Colorado home mortgage refinance rates will be.  Don’t be alarmed if you did not lock yet I still believe we will have a slow day Monday and will be able to capture a few more Colorado home mortgage refinance locks before any major activity starts.  Those who want to gamble may find their rates getting better by .125%, but if the gamble does not pay off you could loose as much as .5%, so again Colorado home mortgage refinance advice:  LOCK  Have a great evening.  Tomorrows blog will be a filler for my SEO attempts for, Bad colorado credit home loan try putting that into a 500 word blog:-)  Hey its what people type in the search engines that cause me to use these terms.  Call if you have questions, and Happy Easter.  I am a spiritual man and am thankful during these times for the sacrafices made for me.  God bless.

Colorado home mortgage rates will be impacted by a variety of economic reports currently being posted. The first report the Jobless claims were released early this morning and showed a greater then expected job loss number. This number typically moves Colorado home mortgage rates down when the news is worse. Coloard home mortgage programs will also be influenced by the LEI report which is a leading economic indicator and typically shows what direction the economy is heading. A good report will be negative to Colorado Home mortgage rates and a bad report obviously will be better for Colorado home mortgage programs. I just looked up the information on the LEI and it came in worse then expected. currently the stock market has increased over 100 points, but we will probably see some of those gains lost as investors tend to become a lot more conservative with bad economic news. We should see Colorado home mortgage rates remain some what better today and based on where rates are at it is still a LOCK recommendation. As we all know investors are incredibly unpredictable and if they feel risky and remain in the stock market then we may see Mortgage Backed Securities drop which will increase Colorado home mortgage rates. Today we should see rates remain the same but again I can’t express this enough rates are good sometime cashing in is a win win situation and I will keep my Colorado home mortgage LOCK recommendation in effect. I have 4 clients I will be locking today.

I am still amazed at all the activity from yesterdays Colorado home loan markets that sent rates soaring.  The Dow was up over 400 points, but the market did reset today and the Colorado home loan market stayed pretty steady.  Lenders were quick to react early on, sending Colorado home loan rates up.  The 5.5% coupon bond which is the primary bond traded in the market closed the day up causing lenders to reprice yet one more time but this time Colorado home loan rates got better.  Rates were not as good as early on yesterday, but they were still very reasonable.  The Federal Reserve chairman spoke about leaving the door open for continued interest rate reductions in order to stimulate the economy which had many Mortgage Backed Security investors paniced about inflation.  We should all know by now that inflation sends Colorado home loan rates shooting up and it goes to show that investors pay special attention to what is said by all the members of the Federal Reserve.  I believe that at this point Colorado home loan rates are still good and if you can lock at a rate that is desirable then Lock even if it is a long term lock.  I have seen too many times when economic news is light inflation tends to be a fail safe topic to talk about which can be devestating to Colorado home loan mortgage rates.  One last though over the last 12 months Stated income loans have taken a hit and as a broker I still have asses to Colorado home loan programs which will allow stated income to qualify.  I bring this up because out of the 41 Colorado home loan lenders I use only a handful still have these programs available and if you currently have an adjustable rate mortgage, Locking something in long term may be the right choice. 

What a day for Colorado home mortgage rates.  Those that took advantage of the lock recommendation will enjoy some of the best Colorado Home Mortgage rates we have seen this year.  The Federal Reserve lowered short term interest rates by .75% which is lower then what most Colorado Home Mortgage lenders projected.  We should have seen Colorado Home Mortgage rates drop even further but investors can be irrational and a frenzy took place.  Colorado Home Mortgage rates jumped up early morning and continued with no end in sight.  I was able to lock 5 clients yesterday and 8 clients today and Yes Derek you just made it under the wire.  I had one investor who appeared to forget that the market was going crazy and left rates somewhat unchanged which benefited some of the late locks put in.  I would continue to monitor the market but the frenzy told us that inflation still tends to be a concern for Colorado Home Mortgage rates.  People seem to think when the Federal Reserve drops rates that long term rates improve, that could not be further from the truth, but in this case the market already projected a 1% decreases in the Ferederal Reserve funds rate and rates should not have dropped, we are humbled by how quickly things can change and need to be reminded that when the rate is right we need to Lock.  I have no idea what the market will do but if you have not locked yet we may want to float for a day or so, but be prepared for another Colorado Home Mortgage alert to Lock.  Good night and Good luck:-) 

Sorry about the crazy writting we are trying to continue with our web placement for key terms like Colorado home equity loan.  I am keeping it short right now will update the Colorado home equity loan site later today but my strong recommendation for all you conserviative Colorado home equity loan people is to LOCK.  I am inputting Clients in now and am putting a strong Lock recommenation.  The market still looks good, but sometime it is time to cash in and now may be the time.  Look for the Federal Reserves to improve rates by 1% which will impacted any current Colorado home equity loan products, but other then that it will move inflation and may cause rates to start increasing.  Recommendation: LOCK.

There was a lot of activity today with Mortgage backed securities.  We saw several lenders giving us updated pricing allowing our Colorado Online Mortgage options to improve throughout the day.  As bond prices fluctuated today I felt it necessary to point out some key information to pay special attention to.  As a Colorado Online Mortgage company I have often written about the phenomenon known as breaking through the pricing floor and ceilings at any given price point.  These price points are easily monitored and often over looked in pricing Colorado Online Mortgage options.  Lets stick to the basics when bond prices increase there is an inverse relationship between the price of a bond and the interest rate being quoted by your Colorado Online Mortgage company.  As your Colorado Online Mortgage company your rates will be less when Mortgage Backed Securities are up.  The opposite is obviously true when Mortgage backed securieties are down then Colorado Online Mortgage rates are up.  You might find it amusing that I tend to use certain key terms over and over, please bear with me my web master has forced me to talk a certain way, try to work through it.  Ok lets get back to the pricing floor and ceiling discussion, as bonds move throughout the day they tend to move very quickly between certain price points.  Lets use a basic example of $100 bond it may increase to $120 and as low as $80 without warning and with ease.  This will cause Colorado Online Mortgage companies to price out up or down depending on the bond price.  However when the bond hits that $80 mark or the $120 mark the price of the bond hits a barrier this barrier in the Colorado Online Mortgage world will be referred to as the ceiling and floor of the bond.  If some type of economic activity forces the bond through these barriers then a new floor or ceiling comes about.  Now you are probably asking yourself how that will impact your Colorado Online Mortgage now, well today we saw 5.5% coupon bond hitting that pricing ceiling.  If the 5.5% coupon bond continues its course and breaks through the ceiling we will see rates improve even more.  Beware of the Ferderal Reserves they are expected to decrease rates by 1% which is poison to mortgage backed securities, luckly investors are prepared for it.  If you need any additional questions answered please provide comments for your local Colorado Online Mortgage Broker:-)

Daniel