Colorado Home Mortgage Banking

Colorado

foreclosures are at an all time high.  These Colorado Foreclosures have followed the same statistics found in many other markets throughout the U.S.  So in short we are not experiencing anything that is not in line with national averages.  However, we are experiencing some of the worst Colorado Foreclosures ever recorded in Colorado History.  There are many reasons for the Colorado Foreclosures.  I will try to break some of these reasons down for you today.  The first and most obvious reason for Colorado Foreclosures is that Home owners are not making their payments due to economic hardships.  Loss of employment for one or both members of a house hold will play havoc on their ability to make payments.  This is really self explanatory and based on the state of the economy we are seeing many households faced with this issue.  Colorado Foreclosures have always had these factors contributing to its statistics, but there are even bigger issues going on.  Colorado Foreclosures are experiencing new phenomenon’s in the industry with the adjustments of the once popular Adjustable Rate Mortgages or ARM’s.  

There are many types of ARM products available and not all ARM products are bad.  The issues that Colorado Foreclosures are facing are the Subprime ARMS commonly know in the business as 2/28 or 3/37.  These programs were designed to force homeowners to refinance after 2 or 3 years.  We called these band aid loans because when the adjustment period starts it will actually adjust 2% every 6 months until it hits the market cap rate around 12.5%.  You can see why Colorado Foreclosures were impacted so quickly.  Home owners that got into a 5.5% 2/28 program actually jumped up to 7.5% and 9.5% before the 3rd year ended.  Colorado Foreclosures spiked because homeowners had to make payments that got out of control.  As I stated before these programs were designed to get out of after the 2 or 3 year period but something held them back.  What held them back was the fact that homes were not appreciating to a point where refinancing was possible.  FHA home loans require a minimum of 5% equity in the home and were designed to be the loan these clients got into after the adjustment period began.  Colorado Foreclosures and bad economic conditions forced many homes on the market and with the supply so high Home prices tanked.

Colorado Foreclosures began to see more and more homes entering into Colorado Foreclosures status.  Homes were not maintaining the value needed to qualify for a new loan and interest rates were adjusting out of control.  Home owners were faced with a decision; continue making a payment they can’t afford or stop making payments all together.  If they choose to stop making payments the home owner was able to save the money needed to get into a rental property shortly before the official Colorado Foreclosures took place.  It is clear why so many people are electing to go into Colorado Foreclosures when the only repercussion was that they had to move.  I can’t blame just the homeowner in this situation.  Mortgage Brokers failed and Lenders failed by allowing such loose standards in underwriting the homes.  Ultimately these brokers and lenders were the primary contributors to the number of Colorado Foreclosures being put on the market today.  A lot of money was made by everyone involved.  These individuals choose income over doing what was right for the industry and the consumer.  

Realtors were simply pricing homes for what the market would allow so they probably could have seen what was happening, but ultimately are the least likely to blame for Colorado Foreclosures running as high as they are.  Brokers and Lenders top my list of who to blame for Colorado Foreclosures being where they are.  Lenders for allowing bad credit individuals to qualify with debt ratios so high that any increase of payment would send the consumer out of control.  They knew what these loans would do and should have seen that Colorado Foreclosures would be the result.  Brokers who used aggressive appraisals to qualify people on over inflated properties and failing to educate their consumers on the repercussions of the loan they were getting into.  Can you imagine a broker that would push an unethical appraiser to value a home 25% above the actual value and then put their client into a loan they could barely afford knowing it would go up by 2% every 6 months two years later?  On a $200,000 loan the payment went up over $250 a month and $500 a month in the 3^rd year. These loans had no other outcome to be had but to have them enter into Colorado Foreclosures.  These brokers should be prosecuted and the Lenders fined to a point where their ability to do business goes away.  

The reason I feel so passionate about holding people accountable is that WE ALL PAY for these mistakes.  We pay in the sense that our homes are not appreciating the way they should.  We pay in the taxes that are given to these lenders in Federal Aid or Cheaper bailout money issued in Treasury bills.  We also pay in the losses suffered in portfolios that were tied to the perception that the paper sold in these portfolios were in a risk category not expected to default.  When Colorado Foreclosures spiked the people that bought these mortgage backed securities suffered greatly and even had some people loosing their entire portfolios.  The money in these portfolios were counted on for retirement, College funds, health care, and so on.  So the question to ask yourself when thinking about Colorado Foreclosures is that when World Com, Enron and Adelphia all committed billions of dollars in fraud to their investors, people were held accountable and some of these individuals were prosecuted.  So why is it that the Trillions not Billions that were lost in Mortgage Backed Securities not getting the attention that these companies had.  Just like Enron and World Com people were defrauded and many people lost their entire savings and retirement plans.  Yet because the guilty pool is so big no one wants to hold them accountable.  It’s sad and at this point I don’t have an answer, but Colorado Foreclosures will always be an issue when there are no measures to hold people accountable.  We at 1^st Metropolitan Mortgage are passionate about our client’s welfare and want to make sure that what ever loan you get into does not result in Colorado Foreclosures in the future.

Did you know that you can give yourself a $4000 a year raise by having a mortgage?  Yes you can give yourself a raise by simply owning a home and having a Colorado home equity loan tied to your property.  Colorado home equity loan interest is tax deductable and as a result, will lower your yearly tax obligations. Every payment made to your Colorado home equity loan, requires that you pay a very large portion to interest.  You can deduct all of this interest from your taxes throughout the year.  You can also deduct origination points from your closing.  You can ask me more about that later.  Here is how your tax deductions work; let’s say you have a house payment of $1500.  That payment will be broken down on your Colorado home equity loan statement into several parts.  Depending on how your Colorado Home equity loan payments are broken down, will determine the exact amount of tax deduction you can take.  Anything being taken out of your payment for interest would be the tax deductable portion of your Colorado Home Equity loan payment. On a $1500 a month payment the interest portion will probably account for about $1200 per month.  When you multiply that out over 12 months you would have paid $14400.  Given the amount of Colorado Home equity loan interest paid and using a standard 30% tax bracket, you can account for how much of that $14400 you should be getting back.  If you are in the 30% tax bracket your tax refund would be around $4200.  

Your Colorado Home Equity loan interest just put another $4200 in your pocket yearly, assuming that you are claiming zero or one on your W-4’s.  By claiming zero or one on your W-4’s you are putting yourself in the highest tax point for your income.  You might be better served by putting yourself in a lower tax point and settling for a lower yearly refund.  Your goal should be to spread out the Colorado Home Equity loan cash back over each pay period versus once a year.  You can accomplish this by increasing your W-4 deductions, which will lower the amount pulled out in taxes.  This reduction will increase your net income every month.  You can quickly see how your Colorado Home Equity Loan has opened up your income related cash flow. 

Here is how you can calculate the number of deductions to take for your interest paid on your Colorado Home equity loan.  For every $3000 in interest you pay you can claim one addition deduction.  Every time you claim a higher number of deductions your tax obligation goes down.  In this case ($14400 / $3000 = about 5) you would then need to add 1 for yourself, giving you a total of 6 deductions that can be taken.  By having a Colorado home equity loan you could have a total of 6 deductions including yourself.  These deductions could not be made if you were not a home owner.  By taking 6 deductions on your w-4 form you drastically reduce the tax amounts being withheld.  This will translate into more net dollars in your wallet monthly versus yearly.  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.  Let the Colorado Home Equity loan deductions work in your favor. 

Colorado Home Mortgage Loan rates increase again on positive Durable Goods data.  The Durable Goods report came in better then expected showing only a .5% negative increase versus the projected .7% decrease.  The news sent Colorado Home Mortgage Loan rates on an up hill climb.  Today we will certainly see Colorado Home Mortgage Loan rates around 6.0%.  Though the information came in better then expected, historically the figure is still considered poor for industry standards.  The positive driving factor in Durable Goods came from its core component, which showed a positive growth of 2.5% versus the projected .7% decrease.  This was viewed by many experts and investors as an extremely good sign for potential recovery.  It should be noted that the durable goods report still indicated a declining figure which means that manufacturing sectors are still contracting. Investors are putting all their bets on the Core component which actually showed a positive growth figure.  I made the recommendation to FLOAT and those who FLOATED will be paying a higher price today for their Colorado Home Mortgage Loan rate.  I will continue to push the FLOAT recommendation through Thursday, because at this point most of the damage in Colorado Home Mortgage Loan rates has already taken place.  Locking your Colorado Home Mortgage Loan rate now would have you locking at this months high point.  You have already demonstrated that you are willing to take risks so you might as well ride out the other reports coming in over the next few days.   We also have preliminary GDP being reported today which could bring things back a bit from the low points felt this morning.

Colorado Home Mortgage Loan rates have also been impacted by Crude Oil.  Crude Oil appears to be loosing some ground which investors are viewing as a positive for the equities market.  Money will be pulled out of Mortgage Backed Securities in order to capitalize on a growing equities market.  When money is pulled out of the bond market demand decreases, which in return, increases Colorado Home Mortgage Loan rates.  It is still such a volatile market today and investors are trying to get ahead of the next buying and selling trends.  Thank god I do not have to be the person selling and buying bonds it can be a real tough industry to be a part off.  Investors, as they try to get that upper hand, tend to over react to market news very quickly.  Today we may have seen a little over reaction which has caused Colorado Home Mortgage Loan Lenders to do the same.  This is the biggest reason we have seen increases in Colorado Home Mortgage Loan rates so far today.  It will take poor performing economic reports to bring things back in line and as I look at the economic reports forecasted in the next 3 days we will see plenty of opportunity to bring the market back.  Colorado Home Mortgage Loan rates are priced much higher today then what was seen Thursday and Friday of last week.  Those of you that Locked your Colorado Home Mortgage Loan rate when the Lock recommendation was in place, good job you can breath easy and know you have Locked in a good rate.  Those of you that took the risk to ride out a better rate are natural gamblers (I like that) and should now just hold tight on the FLOAT recommendation.  We may see Colorado Home Mortgage Loan rates continue to rise this week if the data continues to come in better then expected, however I do believe we will see rates drop down again in the weeks to come.  We are seeing bits and pieces of data indicating that we are on our way up, but consumer sentiment and consumer confidence indicates consumers buying tendencies.  With those reports coming in lower and lower every month I can’t help but to believe that consumer spending is down, which is basically the core component in our economy.  If we do not have money circulating through the economy in the volumes we are accustom to, it is hard to show any sustainable future growth prospects.  It is only when people begin to react positively to the economy that true recovery will be felt.

Please check out www.coloradohomemortgageloan.net/news for more info and call me with any of your Colorado Home Mortgage Loan questions.

Daniel    

Colorado Online Mortgage rates jumped up over the weekend.  Investors used a sell strategy in the bond market to capitalize on short term profits.  Bonds hit a low point last Monday and Tuesday which sparked a buying frenzy in the Colorado Online Mortgage market.  Those investors that bought early last week were looking to cash in this week and began selling over the weekend as a result. 

Colorado Online Mortgage rates should have seen very little movement due to economic reports released today.  You can find out the specifics on these reports at www.coloradohomemortgageloan.net/news Here we will stick to the basics.  New Home Sales for April came in a bit higher then expected, but not enough to affect Colorado Online Mortgage Rates.  The better then expected numbers did spark some experts to cry out recovery, but I still believe we have a long way to go.  On a good note, for those that believe that home prices are dropping, the median home value actually increased 1.1% from last year.  It just goes to show you that the media will only report what is going wrong in the home market rather then reporting all the information.  This leads me to our last economic report Consumer Confidence.  Colorado Online Mortgage rates will certainly be impacted on peoples perceptions of what is going on in our economy and right now people are just down right down.  Confidence numbers came in at a 16 year low and appears to be dropping lower and lower every time the report comes out.  Colorado Online Mortgage rates should have improved based on the information but that did not take place today.

Colorado Online Mortgage rates were instead impacted by profit seekers.  These profit seekers went on a selling spree which started on Saturday and continued through the weekend.  At this point Colorado Online Mortgage rates were impacted by simple economics.  Supply and Demand were the key components in the market today.  Demand was low and supply was high.  This required bond prices to drop until the demand increased enough to spark activity.  When bond prices drop Colorado Online Mortgage rates will go up.  Our recommendation for the moment is too FLOAT.  We believe that the profit takers in the market may have undervalued the market a bit which means we may have room for recovery by the end of the week.

Colorado Online Mortgage rates should see some heavy activity in the next two day.  Durable goods and Preliminary GDP will be announced on Wednesday and Thursday respectively.  These reports are major movers in the economy and if for any reason you believe the market is improving then LOCKING should be your only decision.  Colorado Online Mortgage rates will certainly suffer if these reports come in better then expected.  The experts have low expectations predicted on these reports making it difficult to assess whether the reports will be better or worse the current consensus. Regardless the data will be bad its just how bad it will be will create the driving force for Colorado Online Mortgage rates.  I am still recommending my clients to FLOAT simply because the economic forecast so far have indicated poor performing data.  However I am running about 85% in my forecasts and I could be wrong.  Those that want to take the uncertainty out of the market should lock immediately; those of you who want to ride it out, should wait until Friday before locking.  The wait could pay off about .25% better then the current 6.0% Colorado Online Mortgage rates currently being offered.    

Please feel free to call me with your Colorado Online Mortgage questions.  I hope that your 3 day weekend went well and I look forward to servicing you in the near future.

Daniel     

Colorado home loan rates saw some relief in the market today.  We had a very tough day yesterday and saw Colorado home loan rates jump up about .25%.  Today we have recovered some of the losses from yesterday, but we still have some ground to make up to recover completely from yesterdays losses.  I believe that the market will continue to improve up through Tuesday and at this point will recommend that you continue to FLOAT.  If you are conservative in anyway and want to take the risk out of the market then go ahead and LOCK.  You should be able to get 5.75% on your 30 year fixed Colorado home loan rate program.  The only economic report that came in today was the Existing home sales data.  The data indicated better then expected sales numbers and as a result held Colorado home loan rates from improving even more.  Though the data came in slightly better then expected it still came in below 5 million which is historically low.  Following the Existing home sales numbers, were current home inventory numbers which recorded its highest level since 1985. 

Colorado home loan rates probably saw most of its improvements due to the fact that the Mortgage Backed Securities market appeared to be slightly undervalued making it a good buy.  The 10 year treasury saw some great improvement creating an even bigger separation in price between the 5.5% coupon bond and the 10 year Treasury note.  In simple terms it means that we have room for additional improvements with Colorado home loan rates in the short term and will probably see most of the losses experienced from yesterday regained by Wednesday next week. 

We have several economic data releases due out next week and all of them will play a role in how Colorado home loan rates will move.  You can find out more about these reports at www.coloradohomemortgageloan.net/news  Please let me know if you have any Colorado home loan questions and have a safe weekend.

Daniel

Colorado Home Mortgage Refinance rates took a hard hit in the market today.  Rates jumped up about .25% for the day and at this point the only explanation that can be given is fear.  I stated in an article yesterday that the market would watch for what was said in the FOMC meeting last month.  The release of the report yesterday started the upward climb that Colorado Home Mortgage Refinance rates had and it appears that it may not be over.  FOMC board member Fed Gov. Kroszner spoke to the media and layed out a detailed plan for the Federal Reserve which outlined what steps still needed to be taken in the fight to bring back the housing market.  He also made note that the process would be long and would require more government intervention in order to bring the markets back.  Colorado Home Mortgage Refinance rates took the news to mean that the stability of the long term bonds backing Mortgages would remain a risky investment in the short run then in the long run. 

Another negative blow to the Colorado Home Mortgage Refinance rate market were comments made by Bill Gross, chief investment officer of Pacific Investment Management Co.  Who stated that “Americans are fooling themselves if they think U.S. inflation is under control”.  Bill Gross is definetly a mover and a shaker in the investment bond market.  His comments signaled another blow to inflation and as we all know inflation will create serious movements in the Colorado Home Mortgage Refinance market.  Most of the increases seen on Colorado Home Mortgage Refinance market rates today were contributed to the fear of inflation.  We had only one economic report to speak of and that was Jobless claims which came in slightly better then expected.  Read More about the economic reports and its impact at www.coloradohomemortgageloan.net/news.  We will have a light couple of days on the economic reporting side, which means headlines will again be the biggest factor influencing Colorado Home Mortgage Refinance rates until Tuesday of next week.  With Colorado Home Mortgage Refinance rates jumping the way they did today FLOATING makes sense.  The market reacted to fear not facts today.  I do want to warn people floating today that much of the concerns felt in the market have been my concerns for some time.  Oil prices dictate future product costs.  The rate that product cost goes up creates inflationary pressures and inflation creates a very bad environment with Colorado Home Mortgage Refinance rates.  Please call me with any of your Colorado Home Mortgage Refinance questions.

Colorado Online Mortgage rates today have lost some ground from yesterdays improvements.  The primary reason for the increases appears to be the lack of volume currently seen in the Mortgage Backed Securities market.  I am sure that the Market is waiting for the Federal Open Market Committees Aprils meeting notes to be release in order to gauge future Federal Reserve action.  The Federal Reserve controls monetary policy in the United States, and with that control, they influence the flow of cash in our economy.  The accessibility of funds in the economy creates fluctuations in interest rates and it is for this reason, that the bond markets focus so much on what is said in these meetings.  Colorado Online Mortgage rates will see some of the gains realized over the last two days dissipate if the Federal Reserve makes any mention of inflationary issues.  The last Federal Reserve meeting notes that were released kept a very cautious eye on how it addresses inflation, so that the market did not overreact.  Well the last two inflationary reports sent some mixed signals.  Immediately after the reports were released it became obvious that the Mortgage Backed Securities markets position on inflation was that the economies inflation numbers appeared to be under control.  So the pricing currently felt in the bond market reflects better then expected inflationary numbers.  Colorado Online Mortgage rates benefited from this approach.  The concern today will be whether or not the Federal Open Market Committee puts any negative spins on the status of inflation.  If the FOMC meeting notes indicate concerns for inflation we will see Colorado Online Mortgage rates increase today.  So far it appears that early morning trading may be a preview of what investors are already afraid of and that is increased inflationary concern.

The Federal Open Market Committee has had board members express concerns over the last couple of weeks about the state of the economy.  They are issuing warnings about the length of time our economy will continue to witness the tough economic situation that has found its way into our Country.  Colorado Online Mortgage rates will do well as long as our economy faces the issues currently in place.  This may be a great time to restructure your current financial position to help lower your monthly payment obligations.  Colorado Online Mortgage rates are still hovering around the 5.75% range and LOCKING would be a good idea.  I have said many times before anything below 6.0% is a good Colorado Online Mortgage rate and should be considered closely.  It’s hard to say when the economy will be in its recovery phase and weather or not we are currently experiencing a recession.  What can be said is that when we face tough economic times we do experience relief in the cost of funds.  This will translates to better Colorado Online Mortgage rates. 

We have only one major economic report being released today which is the FOMC minutes from April 29^th meeting.  It will be what was said and where the focus will be over the next 6 months by the Federal Reserve, that will be market movers today.  Go to www.coloradohomemortgageloan.net/news to get the detail explanation on these economic reports.  Another report being released today will be Canada’s inflationary report which should be monitored simply for the global inflationary trends.  Canada releases several reports that are similar to U.S. economic indicators.  Canada’s CPI report due out any minute will give us an inside look on what may be in store on our next inflationary report. 

Colorado Online Mortgage rates are still good enough to implement a LOCK recommendation for today.  You should be able to lock in at 5.75% and if you are willing to pay the cost 5.5% will be available.  Most of my pipeline has been locked already and those of you who are not locked should be getting a call from me today.  Please give me a call with any of your Colorado Online Mortgage questions, and have a great day.

Daniel

Colorado Home Mortgage Loan rates had some early morning volatility as the Producers Price Index data came in.  The PPI report is split into two categories and will be explained in full detail at www.coloradohomemortgageloan.net/news. Today, on this site, I will simply give you the basics.  The Report shows inflationary pressures on the production side.  Obviously, when it costs more to produce an item, the price for the item, has to be increased to cover the difference.  The increase in cost over time is what is known as inflation.  Inflation will have a sever affect on Colorado Home Mortgage Loan rates.  The PPI report came in below expectation for increases in production costs over all, but it came in higher then expectation when energy and food consumption data were added back in.  Long story short the mixed data should have had Colorado Home Mortgage Loan rates holding itself at its current levels. 

The data called for a calm day in the Mortgage Backed Securities market, but the reality of what played out in the market created quite a show for Colorado Home Mortgage Loan rates.  The Economic data set the ground work for another lemming type movement, as one investor after another began bidding on Mortgage Backed Securities.  Each investor thinking the other new something they did not.  Bond prices shot up about 25 basis points in about 30 minutes and about 60 basis points by the end of the day.  Colorado Home Mortgage Loan rates should see slight improvements, but not enough to get us to the 5.625% rate.  LOCKING remains the recommendation for now however if the mood in the economy changes we may have to set a new Locking floor around the 5.5% range.  This has not happen yet, but I am beginning to think that it will be a possibility. 

Colorado Home Mortgage Loan rates have moved up and down about .5% in the last 6 months.  Most of the data in recent weeks has investors believing that our economic troubles may be over.  In fact the recent stock market jumps have shown a bullish approach by investors.  This approach has drained funds out of the Mortgage Backed Securities market in order to finance these transactions.  Investors are reacting as if we are in a turnaround period.  Today the market lost considerable ground and recent economic news has, at least for today, lead investors back to using conservative strategies to invest.  Conservative strategies leads to better then expected gains in the Mortgage Backed Securities market.  As a result Colorado Home Mortgage Loan rates will trend lower today and 1^st thing tomorrow morning.  I stated this before, but LOCKING will remain my recommendation as long as you can get 5.75% or better. 

It is strange how the market has reacted over the last year.  Most of the reactions made in the market so far have originated from economic predictions made by experts.  Experts like weathermen have the knowledge to predict, but at best, it is an educated guess.  It’s hard not to be influenced by the trend of the day when so many experts are giving their opinions on the subject matter. The direction experts are taking on the current economic situation is that we may be in store for some tough times ahead.  Colorado Home Mortgage Loan rates will be positively influenced by tough economic times.  The question we need to answer right now is what direction will the economy take over the next 6 months?  We have had a tough year and the storm will be something to remember for a long time.  Are we in the Eye of the Hurricane and will the storm continue?  It’s too soon to tell just yet, but the signs are pointing towards even tougher times ahead. 

GDP continues to report low, but not low enough to indicate a recession.  I believe that a recession is part of the normal economic process.  Historically we go through short periods of time where the economy actually shrinks.  We call this time a recession.  The economic reports keep stating that we are just above what would be called a recession, but I believe that the data is slightly biased.  I also believe that we still have a ways to go before we begin to see change.  I can go on and on with why I believe this but will instead leave the phone line open to your questions.  The tough economic turmoil does make predicting Colorado Home Mortgage Loan rates a little easier to predict and I will continue to give you the feedback you need to make the right Colorado Home Mortgage Loan rate decisions.

Daniel

Colorado Home Mortgage rates appear to be hovering around the same rates given out on Friday.  Most of our Colorado Home Mortgage rate movement today will take place do to Headlines versus economic data.  The only report released today was the Leading indicators data which reports on a variety of economic factors, which predicts strength in the economy 6 to 9 months in the future.  This report does not play a major role when it comes to Colorado Home Mortgage rates, but it is monitored.  The reason the role is down played has to do with the fact that most of the indicators used in the Leading Indicator report have already been reported individually and have already made there impacts on the Colorado Home Mortgage Market.  The report did come in a bit higher then expected but so far has not created any pricing issues in the market.  Today’s Mortgage Backed Securities trading will hinge on Market headlines and so far the Market Headlines have not been good for Colorado Home Mortgage Rates.

We will have to wait and see what else is being reported in the news but here is what we have so far:  Lowes reported better the expected earnings, but has forecasted a warning about future earnings.  Initially this created some positive momentum for Colorado Home Mortgage rates, but the momentum did not last too long.  The big news today and probably for some time to come is the anticipation of Microsoft and Yahoo merging together.  This will be huge for the market, and the indication so far, is that they will be able to complete the merger in the near future.  Colorado Home Mortgage rates have been affected by the positive news.  Stocks are up over 100 points and as investors see opportunity in stocks they tend to utilize funds from long term investments.  Pulling money out of bonds will cause bond prices to drop and in return increase Colorado Home Mortgage rates.  The trick here is to predict what the next 48 hours will bring.  It’s hard to say so I will lean on the conservative side and recommend LOCKING. 

Colorado Home Mortgage rates should still be at 5.75% and it appears the risk/reward for floating may not me in your Favor.  The big news tomorrow will be the PPI report which is an inflationary report.  If the numbers on inflation are bad, and the stock market maintains its current momentum, we will see Colorado Home Mortgage rates jump.  With oil still trading at an all time high I just find it hard to believe that we will not see some inflationary pressure in the market.  As I said before, it is just too hard to predict what will happen in the next 48 hours.  Now if we look over the next 30 days or so we are getting reports from a variety of source that seem to indicate that we will not be out of the woods for some time.  The negative trends in the economy may be around even longer then we expect.  If that is the case we should have a good summer as it relates to Colorado Home Mortgage rates.  It is the ups and downs that can cost you money, and that is why it is important to have someone on your side predicting market trends.  Please call me with any of your Colorado Home Mortgage questions.  Remember to check out www.coloradohomemortgageloan.net/news for more specific information on the reports already released and tomorrows PPI.

Colorado Online Mortgage rates found some good things happening in the market today.  The Economic data released earlier in the morning opened the door for some additional drops to an already low Colorado Online Mortgage rate.  Housing starts did not come in any different then what I had expected which was slightly higher then what the consensus was.  The big news of the day came from the consumer sentiment reading which showed that consumers today are far more concerned about where the economy is headed then ever before.  Consumer Sentiment came in at a 24 year low, it’s hard to put your hands around it, but we are actually hitting numbers close to what we may have seen around the great depression time periods.  People have very little faith and investors are beginning to listen.  Colorado Online Mortgage rates always do better during difficult economic times. 

Today I have implemented a strong Lock recommendation for all Colorado Online Mortgage rates.  The recommendation came in early today and continued as Colorado Online Mortgage rates finally came back in line.  I was able to lock another 6 loans at or under 5.75%, depending on what these clients were looking for.  If you had a loan in the pipeline odds are you are now locked into a rate you can live with.  We have also seen the re-introduction of the Colorado Online Mortgage ARM product which is being offered at an extremely low rate.  4.875% can be your 5 year fixed Colorado Online Mortgage rate if you choose to have it.  The Product does adjust after the 5 years, but we have had many people lock in to capitalize on this unique offer.  Colorado Online Mortgage rates should continue to see some good things happening, especially if the inflationary reports due out on Tuesday come in below expectations.  It appears that the investors may be gearing up for another heavy volume summer especially if they continue to offer the 5 year fixed rate below 5%.  We have not seen this type excitement in Colorado Online Mortgage rates since the refinance boom of 2001-2003. 

After a great Colorado Online Mortgage rate start, the market did drop a bit late this afternoon.  This could be in reference to Profit Seekers in the Mortgage Backed Securities market.  These terms and any other term related to economic reporting can be found at www.Coloradohomemortgageloan.net We are trying to keep thing simple here.  The live Mortgage Backed Securities market feed showed a late day increase in Colorado Online Mortgage rates and if you still have the ability to lock at or under 5.75% then my recommendation is to do just that.  Investors may get a little concerned about Core PPI which will be released on Tuesday.  If the Data comes in indicating inflationary pressures you can count on bond prices to drop down from where they are at now.  If this happens Colorado Online Mortgage rates will go up.   Please take a minute and look at my other site to get some of the details about the reports coming out next week.  Take some time today and lock in your loan if you can.  5.75% should not carry any costs and will put you in a good Colorado Online Mortgage rate.  Best of Luck and call me with your Colorado Online Mortgage rate.