Colorado Home Mortgage Banking

Colorado Home Mortgage rates improved today on the release of several poor performing economic data reports.  These reports reminded investors that we are still not out of the woods yet.  Our economic situation seems, at least for the moment, uncertain about immediate recovery.  Colorado Home Mortgage rates always do better during uncertainty.  We had a rough week last week as it relates to Colorado Home Mortgage rates and much of what was lost last week has found its way back into the market this week.  We will continue to support a LOCK recommendation around 5.75%.  Today 5.875% would be a no cost lock; where as 5.75% would still carry a small cost.  Let’s give it another day or so before making any quick decisions, it appears that the data coming out still has some room to improve Colorado Home Mortgage rates over the next day or so.  We will maintain a FLOAT recommendation through the weekend.  I will certainly advise a LOCK if something big happens, but tomorrow’s economic data will more then likely reflect a similar negative message being communicated by the reports today.

Go to www.coloradohomemortgageloan.net/news to get the details on the specifics of each report released today, for those who just want the basics this is the site to keep book-marked.  Colorado Home Mortgage rates will be impacted by tomorrow’s economic releases.  Housing starts and Consumer Sentiment are both on the clock tomorrow and both reports are expected to come in negative.  Consumer Sentiment is a no brainer, as a whole people still believe we are in a tough situation and whether it is political, economical or local the problems still remain the same.  People do not have confidence that our economy is in a state of recover and instead believe that tougher times are ahead.  This will be reflected in the story told in the Consumer Sentiment data released in the morning.  Consumer Sentiment readings that come in low normally indicates low consumer spending.  When this happens a safer investment portfolio makes sense which will increase the demand for Mortgage Backed Securities.  Long story short it will allow Colorado Home Mortgage rates to drop for a third straight dayJ  We do have one negative possibility that could move Colorado Home Mortgage rates back up a bit and we know them in the investment world as profit seekers (read my other blog) they could be the red herring on any large movements expected in rates in the next 24 hours. 

Finally, we have the housing starts report, which normally this time of year begins to gain momentum.  Builders typically build more in the summer however the problem here is supply.  Right now with so many homes on the market adding additional supply is not profitable, which signals that this report like the previous 7 housing starts reports should come in low.  The question is did the experts predict the housing starts report appropriately.  We will see.  The Mortgage Backed Securities market did close today with some nice gains and more importantly a consistent gain throughout the day.  This should have been reflected in some decent improvements for Colorado Home Mortgage rates.  I checked out several investors today and they are still a little conservative in their rate sheets so we have not seen all the Colorado Home Mortgage price improvements that I would have expected, which certainly means that FLOATING through the weekend should be a safe bet. 

The Last thing I will say is be careful not to allow yourself to be to heavily influenced by what you hear.  Look at the simple data and make your decisions on what you think the market is doing.  I am also easily influenced by what other people are saying.  I do not come up with all of this on my own, I read a lot to get this information out and the sources I read the information from will always push their personal opinions.  Heck my personal opinion comes out in every message I write.  I have had a strong stance that our economy appears to be in a recession and I have stuck to this for some time, but over the last three weeks we have had a few reports come out that seem to tell a different story.  Of course every expert on the planet has to have something to say about it and when you hear it enough you begin to believe it.  I bought into this as well, however today’s data came in pretty bad and unfortunately we will not know how close to a recession we are in until we are almost out of it.  Colorado Home Mortgage rates go up and down based on investor impulse and opinions on where the economy is heading and what the economy has to day today.  When they feel things are getting better for the economy, Colorado Home Mortgage rates suffer.  Likewise, when we fall on bad Economic times Colorado Home Mortgage rates drop.  Right now our economy is in a state where Colorado Home Mortgage rates should be at an all time low, but the simple fact is we have way too much data to sort through, which allows everyone to have an opinion.  Stick to the basic, and call me with your Colorado Home Mortgage questions.

Daniel

Colorado home loan rates took a big hit over the last couple of days.  We have had a variety of economic reports coming out and so far it is hard to determine the exact reason Colorado home loan rates jumped the way they did.  The biggest market mover yesterday came with Retail Sales.  Colorado home loan rates jumped after better then expected retail sales sent signals that we may actually be in a recovery period.  Recovery periods tend to send investors shopping for higher risk investments, which typically yield better returns then Mortgage Backed Securities.  We saw Colorado Home Loan rates get worse by about .375% depending on the bank.  Regardless of which bank you shop at, Colorado Home Loan rates did get worse by at least .25%.  Mortgage backed securities went into a selling frenzy yesterday, and one investor after another jumped on the band wagon.  The 5.5% coupon dropped down to 99-30 which put Colorado Home Loan rates at its highest level in 3 months. 

The economic data alone did not make Colorado Home Loan rates to increase the way they did.  The Federal Reserve board members spoke out yesterday and reiterated concerns for inflation. The Federal Reserves current policy is to fighting inflation at all costs, which tends to be good for MBS, but the fact that inflation is a concern in the short run is bad for Colorado Home Loan rates.  Inflation is bad news for Mortgage Backed Securities and the mention of it drives investors out of long term bonds and into short term investments.  The primary reason for that is simple long term bonds devalue as inflation increases reducing the return on the bond.  Colorado Home Loan rates always react negatively to this information.   The Federal Reserve representatives appear to be much more outspoken under its direction today then in the past.  The current communication policy is drastically different from the communication policy’s of past Federal Reserve administrations.  This is a new thing for investors to get their hands around.  During Greenspan’s administration with the Federal Reserve the policy was to maintain strict confidentiality and only report the data necessary to keep the market moving in the right direction.  Today it appears that the policy is to get more information out and let the financial markets dictate how it will react to the data. This is a good thing, but investors are still uncertain how to react to the information.  In the past they have reacted heavily on anything that was said, because the data was limited and we are still seeing this sensitivity with investors in the market today.

Colorado Home Loan rates did recover slightly today, but not enough to make a major impact from the losses felt over the last couple of days.  Luckily most of our loans in the pipeline are locked.  I like to think that I had something to do with that, but honestly we did have some luck involved.  However, if it makes me look like a rock star for the moment at least, then I will take that for as long as I can.  Colorado Home Loan rates jumped up about .5% over the last week, which will impact anyone trying to lock today.  Try not to let yourself be too distracted by the rate increases because, I believe we will have some better days ahead.  Consumer Pricing Index was released a few hours ago, and it signaled that inflation, at least for the moment, is not as bad as first anticipated.  The numbers came in lower then expected which is good news for Mortgage Backed Securities.  The Mortgage Backed Securities market reacted well to the news and Colorado Home Loan rates did rebound a bit today.  We have a variety of Economic reports being released tomorrow and you can learn about these reports at www.coloradohomemortgageloan.net/news

If you have not locked yet, then you are better FLOATING your rate for the time being.  The market over reacted in the last 3 days and it appears to be slightly undervalued.  With that said if the economic data being released tomorrow (Jobless claims, and Industrial Production) shows data that is Bond adverse then, much of the devaluation will be made up, and rates will certainly head in the wrong direction.  O.K that should cover me if the market continues to head in the wrong direction but here is what I believe.  If you have not locked yet the risk reward is good to wait until after the reports come out.  The Mortgage Backed Securities Market closed on a heavy upward swing which translates to lower Colorado Home Loan rates. We are hoping that this momentum will continue this evening in the foreign markets and carry over into tomorrow.  If that happens and the economic data is bond friendly then rates will probably make up a bit portion of what was lost over the last week or so.  The LOCK rate recommendation continues to stand at 5.75% and I believe we will get there again, but we need some help from the headlines to push investors back into the market.  We have seen a great deal of up and down momentums over the last 6 months and for the moment it does not look as if the trend will stop.  Colorado Home Loan rates should hit a point where locking will make sense, but right now the market just does not seem to be valued correctly to make that recommendation today.  I will continue to update you on where Colorado Home Loan rates are, but in the mean time have a great day.  I apologize for missing a couple days, but when the market goes crazy my time is better served on the phones with you.  If you need up to minute date info on Current Colorado Home Loan rate information call me it only takes me a minute or two to bring you up to speed, but an hour or so to write the information down.  Best of luck and stay tuned.

Daniel

Colorado Home Mortgage Loan rates improved over the last couple of days and we implemented an immediate LOCK recommendation.  Today it appears that Rates started off in the right direction, but at last glance it appears that Colorado Home Mortgage Refinance rates have peaked in its improvements.  You should not be harmed too much if you did not lock yet, but LOCKING is recommended.  Your Colorado Home Mortgage Refinance rate should be locked at 5.75% if not call me so that we can help.  Continue reading for more details on what is currently impacting rates.

Yesterday, we saw some up and downs in Colorado Mortgage Refinance Loan Rates, but overall rates did improve.  Today we are seeing some early morning movement, but so far we have not seen enough to make Colorado Mortgage Refinance Loan Rates change for the worse.  I still have a LOCK recommendation in place for 5.75%.  Most of my pipeline did get locked yesterday and should feel good about the Colorado Mortgage Refinance Loan rate they have in place.  Those that decided to be risk takers may see it pay off, but the risk reward did not out way the LOCK recommendation.

Trade Balance report was released today and is viewed as a bench mark for predicting future GDP numbers.  Though the Trade Balance does very little to move Colorado Home Mortgage Refinance rates in one direction or the other, it can predict other indicators which does impact Colorado Home Mortgage Refinance rates. The volatility in the monthly trade balance can play an important role in forecasts of GDP. Net exports are a relatively volatile component of GDP, and the trade report provides early clues to the net export performance each quarter. There are many complex links between the Trade Balance and Mortgage Backed Securities markets, and some work in opposite directions, so the net effect is that it is difficult to predict. For this reason, the data rarely produces much movement in MBS prices.

What has caused movement is investors fear for where the economy is going.  I know one day I say that investors are confident and the next day I say the exact opposite.  Well the fact of the matter is that investors are Lemmings and will follow any trend on a whim.  Oil reached another record high and AIG announced a major write off in Mortgage Backed Security bonds.  Which on the surface should be bad for Colorado Home Mortgage Refinance Loan Rates, but today it appears that it has not impacted the market much.  However as I write this the MBS market appears to be in a down hill slide which means that Colorado Home Mortgage Refinance rates will be taking a hit early this morning.  I will keep you posted as I see things in the Market, but right now or at least this morning if you FLOAT you will be taking a risk.  My recommendation is to LOCK immediately and call me with your Colorado Home Mortgage Refinance questions.  Don’t Forget to Check out www.coloradohomemortgageloan.net and hit Blog 1 for additional information.  This will be updated around noon todayJ

Daniel

Colorado Home Mortgage blogs can sometime be dry and long so I will summarize by blog in the first paragraph and if you want more detailed information then I will encourage you to read on for more information.  Colorado Home Mortgage rates have hit the LOCKING window we have been waiting for.  Today we can get the 5.75% without any points which means LOCKING is the way to go.  I have several Clients that will have a chance to get LOCKED in today.  We have several influences in the Market that can have negative effects on Colorado Home Mortgage rates.  You can gamble, but the risk reward will not be worth it.  Jobless claims did come in better then expected and The Bank of England did not raise rates.  Nothing out of the ordinary, but Colorado Home Mortgage rates appear to be doing what we want.

Jobless Claims came in today lower then expected.  The initial jobless claims were expected to be 375K but actual data indicated that it was only 365K.  Normally this would have caused Colorado Home Mortgage rates to go up, but so far the market is holding strong.  In fact we are seeing slight improvements, which means we may want to look at locking your Colorado Home Mortgage rate soon.  I will be watching the market very closely this morning and may be calling you for a LOCK recommendation. 

The Bank of England held their short term interest rates right where they were.  It appears that the board in Europe has taken a strong approach locally to fight inflation.  Our Federal Reserve System seems to be more aggressive in their actions.  This will make foreign bond investments more profitable the U.S. investments, which may cause investors to start buying internationally versus here at home.  Regardless the news was not unexpected and has kept its influence out of the market so far.  I have reported several times in the past about the pricing gap between the 10 year treasury and the 30 year 5.5% fixed bond.  These two financial instruments tend to trade in similar circles and move up and down at the same rate.  Over the last few months there appears to be a larger then normal gap between these two securities.  In short, Treasury’s are trading higher then its partner the Mortgage Backed Security.  Colorado Home Mortgage rates should be slightly better assuming that these two financial instruments trade where they are supposed to.  This may explain some of the improvements we are seeing lately.  I will be looking at several banks today and making some assessments on the loans that will be closing soon.  Those Colorado Home Mortgages closing in the next couple of weeks should probably be LOCKED today.  We can get the 5.75% and LOCKING is my recommendation. 

If you are a risk taker then we may have a few more days where rates can improve.  It may even drop us to the 5.5% range, but I will not be recommending client to wait to long.  Here is why I have issues with waiting and why LOCKING your Colorado Home Mortgage rate is so attractive.  Investors have been overly cautious in their projections and though the economic reports are still bad they are all coming in better then projected.  Better then projected economic data causes problems for the Mortgage Backed Securities market.  Colorado Home Mortgage rates will go up as bond prices drop.  Investors are getting their confidence back in the Stock Market and this will cause unwanted pressure in the Bond market.  Another big issue is oil.  I have talked about this over and over so I will make it short.  Oil causes inflationary issues, which again is bad for Colorado Home Mortgage rates.  I don’t see any other solution to slow down inflation except for drastic decreases in the price of oil.  I don’t believe that will happen anytime soon.  All the negative influence in the bond market seem to be there and when we have a small window of opportunity to LOCK a good rate then LOCKING will be my recommendation.  I set the bar at 5.75% and we will have several people locked in today at that rate.  Call me with your Colorado Home Mortgage questions and check out www.coloradohomemortgageloan.net/news for in-depth economic data information.  Thank you for reading.

So far we have seen a lot of activity in the mortgage backed securities market, but we have not seen Colorado Online Mortgage rates move from yesterdays closing bell.  The market continues to focus on headline news and so far it appears that the news is light.  A couple members of the Federal Reserve did moan and grown about inflation, but so far it has not caused Colorado Online Mortgage rates to go up.  Inflation will be a hot topic for some time, especially as oil continues to rise.  I am seeing reports online that have indicated that the oil reserves may not be where they thought they would be, which will certainly increase the cost of oil.  Fear of supply always translates to higher prices.  Colorado Online Mortgage rates will take hits as long as oil continues to rise. 

I will not go into a long drawn out discussion on my belief’s as it relates to oil, but think about this; If Oil companies are currently setting record breaking profitability quarter after quarter, eventually that profitability has to slow down.  Well one way to continue the profitability increasing is to create fear about supply issues.   I wonder who is pushing these reports and how accurate they really are.  It is truly a monopoly and we are at their mercy:-(  Colorado Online Mortgage rates are not the only thing impacted by these companies our economy as a whole feels the pain.  Politicians are taking notice, but no one is taking action.  Anyways I can go on and on, but the fact of the matter is that we have a real problem in store as it relates to inflation, and that problem originates from oil.

Colorado Online Mortgage rates are seeing small improvements from a variety of smaller economic reports being released today.  Productivity appears to be high, but inflationary pressure related to Non-Farming industries appears to be lower then initially expected.  Taking out the cost of fuel from the inflationary data inflation appears to be trending considerably lower then expected.  Americans are just not spending at the same rates the once were.  Colorado Online Mortgage rates appeared to be trending in safer waters, but not enough to change the rate below the current 5.875% figure being reported.  Pending Home sales index also registered another decrease in Home sales.  It appears that the negative sales growth in Home sales has not slowed down yet.  This also tends to be good news for Mortgage Backed Securities, and home sales did came in line with investor projections.

I don’t expect a lot of activity that will change Colorado Online Mortgages rates for the better or for the worse today.  I will keep my Lock recommendation at 5.75%, and today that LOCK does carry a bit of a cost.  5.875% does appear to be the going rate for our 30 year fixed rate programs with no points.  I will keep you posted on some additional economic information tomorrow, especially since we do have the Jobless claims report coming out.  Jobless Claims will make Colorado Online Mortgage rates move in one direction or the other depending on how the data comes out.  In the mean time call me with any of your Colorado Online Mortgage questions.  When you have time find out more about the economic reports being released today and how they impact Colorado Online Mortgage rates at www.coloradohomemortgageloan.net/news  

Daniel

The lack of Economic news continues to have investors looking to the stock market for signs.  Colorado Home Mortgage rates started off stable this morning as retailers continued to report week by week decrease in sales, causing investors to have some concerns about the risk in stocks.  The day appeared to be heading in the right direction and Mortgage Backed Securities began to trade a bit higher then yesterday.  This was short lived, as the headlines reported that Disney had higher then expected 1Q profits.  The news forced money out of the bond market and into the stock market. This may be the reason for the late day rally in the Stock Market.  Colorado Home Mortgage Rates did jump a bit late this afternoon, and we may see Colorado Home Mortgage rates continue to rise tomorrow morning.  Having just watched Lilo & Stitch with my 2 year old I can understand the success Disney has reported and unlike any of the oil companies, I actually feel good about where they are going.  Colorado Home Mortgage rates will however, continue to be impacted by headlines throughout the week.  We have a couple of reports coming out tomorrow which can change the momentum and hopefully push Colorado Home Mortgage rates back down.  We will watch these reports tomorrow and give you an updated on where the market is heading.  I do have some concerns building up lately.  Everything I am seeing in the market shows that we have some tough times ahead as it relates to Colorado Home Mortgage rates.   We will continue to set our locking point to 5.75%.  I have several people holding out and unless the momentum changes, we may want to go ahead and start locking in your Colorado Home Mortgage rate. 

There are several things that I am concerned with, the biggest issue I have relates to how investors currently view the economy.  I believe investors have been hit so hard for poor projections that they have become ultra conservative.  The conservative approach has caused investors to project data at extremely low levels.  In theory investors use this information and act accordingly as they buy and sell investments.  Typically, investors will buy Mortgage Backed Securities during tough times and stocks during good times.  When investors project poor economic data in the near future, activity in the bond market will increase.  This will cause Colorado Home Mortgage rates to improve.  The problem I am having recently is that I just don’t believe that investors are responding to the market according to the projections shown. This is causing the Mortgage Backed Securities market to be under inflated.   Now when the actual data comes out investors have been reacted accordingly, causing the market to fluctuate up and down depending on what the economic data shows.  The only proof I can give that will show the market is under inflated is the relationship between the 10 year Treasury bond and the 5.5% coupon bond.  The 10 year treasury and the 30 year 5.5% coupon bond has shown signs which indicates a larger then expected pricing gap.  The gap used to be much greater, but over the last couple of weeks has dissipated a bit.  Though the gap is smaller we still have some room to move. Colorado Home Mortgage rates will see the benefits of the gap reduction over time, but it will take some time.  This will all come down to investor confidence in the Mortgage Backed Securities market.  Right now investors are not showing the confidence needed to reduce Colorado Home Mortgage rates down where we would like to see them.  It is hard to project when investor confidence will return, but all the negative press about Colorado Home Mortgage companies going out of business or needing help certainly does not build the momentum we need.  Countrywide and Fannie Mae are good examples of why investor confidence is so low.

The next issue I see is the continued inflationary risk in oil.  It is obvious that when shipping cost increases the increase in cost is passed down to consumers.  The increased pricing causes inflationary pressure, which adds more bad news for Colorado Home Mortgage rates.  We will see this issue in the market for some time to come.  Another problem facing Colorado Home Mortgage rates is corporate profitability.  The corporate profitability reports have shown some real surprises in 1Q 2008.  Several companies projected to report poor profitability actually reported that profitability was up.  Adding fuel to the fire was the number of Mortgage companies that have indicated that their default rates will continue, causing sever profitability issues in the future.  Countrywide continues to be the Headline leader in bad mortgage performance, but out just today, Fannie Mae has reported similar issues in their holdings.  This has investors concerned about a possible bail out needed from the Federal Reserve.  This will certainly add to an already unstable Mortgage Backed Securities market and will have investors continuing their conservative approach in the market. 

My recommendation is to LOCK if and when you can get the recommended Colorado Home Mortgage rate of 5.75%.  Its looking like 5.875% will be around for some time.  Luckily we did hit a pricing ceiling at 5.875% so the rate will hold strong, but any major news can have rates going to 6.0%.  I will be watching the Colorado Home Mortgage market very closely over the next few days.  We may have to suck it up and simply lock while we are under the 6.0% range.  Call me and I will be happy to answer your Colorado Home Mortgage questions.  I had a crazy busy day to day that had me in and out of the office, so I apologize for not getting the Colorado Home Mortgage information out to you sooner.  In retrospect rates did not move much if any since yesterday and seem to be lingering around the 5.875% range.  I will post earlier tomorrow.

As I have stated before I will summarize the blog info in the last paragraph so here it is in the simplest of terms.  Colorado Home Mortgage rates today are at 5.875%.  These rates will be impacted by any Headline news because economic data this week is light.  The Headlines had Disney showing stronger then expected profits which caused Colorado Home Mortgage rates to go up a bit.  The Colorado Home Mortgage rate did not go up enough to hit 6.0%.  We expect the Market to start off poorly tomorrow riding out the news seen today.  We have a couple of reports that may help rates but will not know until these reports are released.  Right now if you can get 5.75% at all I would LOCK.  If you are a gambler we do have a long way to go in order to get below 5.75%.  Today 5.75% will have an additional cost to it, I am hoping that the cost goes away by the end of the week at which time I will have a strong Colorado Home Mortgage LOCK recommendation in place.  Call me with your Colorado Home Mortgage questions.  Thank you for reading and please remember to visit www.coloradohomemortgageloan.net/news for more information.

Daniel

Colorado Home Mortgage Refinance rates will be tied to the stock market this week as economic reporting will be light.  Country Wide lowered their selling price from $7 a share to $2 a share drawing concern about the stability and financial strength they once had.  Colorado Home Mortgage Refinance rates are currently holding its position.  As you know Colorado Home Mortgage Refinance rates did trend up over the last week or so based on some stronger then expected economic data released during the week.  Each report seemed to indicate that the economy has started to make a recovery and investors are beginning to hold out hope that we are on an upward trend.  Only time will tell us if that is true.  The ISM report came out which shows any fluctuations in service pricing over a period of time.  These fluctuations are used by the Federal Reserve to monitor inflationary pressures.  A high report here correlates with a higher then expected inflation trend.  Inflation will cause Colorado Home Mortgage Refinance rates to go up.  When the report was released today, Colorado Home Mortgage Refinance rates did jump up by an 1/8th.  We have since recovered that 1/8th due to the current decreases in the stock market. 

This week will continue to be a light reporting week, so stay tuned to the stock market.  If you see the Stock Market going up, then expect Colorado Home Mortgage Refinance rates to do the same.  A decrease in the stock market will cause Colorado Home Mortgage Refinance rates to drop.  I will keep you posted, but in the mean time please call me with any Colorado Home Mortgage Refinance questions.

For those who are confused about what I said, let me quickly summarize it for you.  Colorado Home Mortgage Refinance rates are holding steady at 5.875% with no points.  We expect Colorado Home Mortgage Refinance to remain unchanged over the next few days.  The biggest variable to watch for any movement in the rates will be the Stock market.  If stocks go up rates go up and so on.  We will have a couple small reports coming out that will make rates move a bit, but not enough to go into full explanations on.  Our next big report will be jobless claims which are due out on Friday.  Colorado Home Mortgage Refinance recommendation remains at a FLOAT.  Remember based on what we are seeing our new LOCK level is 5.75%.  Best of luck and please call with questions.  Take a look at

Some very unexpected news in relation to employment numbers hit the market first thing this morning.  As a result Colorado Online Mortgage Rates hit this weeks peak.  We saw a glimmer of hope on Wednesday and again Thursday morning when Colorado Online Mortgage Rates dropped, but much of the rate reductions given on these two days been now been loss due to better then expected economic data.  Thursday afternoon and now Friday had several reports come in better then expected.  Nothing more damaging then the Non-farm Payroll numbers which reported almost 3 times higher then expected.  This came out of no where and it has caused Colorado Online Mortgage Rates to increase about .25%.  We are now looking at rates in the 5.875% range for those thinking about locking your Colorado Online Mortgage Rate.  Our recommendation at this point is an easy one and that is to FLOAT. 

The Non-Farm payroll Employment report looks at employment figures for all business sectors accept agricultural.  This report comprises the biggest employment sector in our economy and is a good measure of economic stability.  Colorado Online Mortgage rates will certainly react to the data being released.  Investors will typically buy Mortgage Backed Securities when economic data signals are weak, but when they come out strong like they did today, investors are more likely to sell.  The selling of Mortgage Backed Securities will cause Colorado Online Mortgage rates to go up.  The problem with this report, and the part I don’t like, is that it can be adjusted at a later date.  So numbers being reported may adjust up or down depending on what the actual data comes in at.  Several survey firms gathering preliminary numbers showed a significant difference in the data that was expected versus the actual employment numbers released today.  This leads me to speculate on future adjustments.  Regardless investors take each economic report as it is written and the Colorado Online Mortgage Market reacts accordingly. 

Luckily we have some light reporting next week, which means that the Headlines will dominate most of the movement for Colorado Online Mortgage Rates.  Though the reporting will be light,  We do have a couple of reports coming out that will impact Colorado Online Mortgage Rates. Two reports to keep an eye on, one on Monday ISM Service report and one on Friday, Jobless Claims.  Monday we will have the ISM Sector report.  This report does give us an indication of inflationary pressures in the service sector.  The Federal Reserve tends to keep a close eye on this report and you can bet that the Colorado Online Mortgage market will watch it too.  Remember inflationary numbers are bad for Colorado Online Mortgage Rates.  So we are hoping to see this months ISM report come in as expected.  Finally Jobless claims have been reporting poorly for two months and it is projected to come in low again.  If this happens we should see rates improve again.  Stay tuned and have a great weekend.  Call me with your Colorado Online Mortgage Rate questions. 

Quick note I just logged into the market and it appears that we are beginning to recover some of the losses felt earlier today, we actually made back everything lost so far this morning.  That is good news going into the weekend:-)

A real rollercoaster ride was experienced in the market today.  Colorado Home Mortgage rates started the day off great, coming in line with our Lock recommendations set earlier in the week.  1st thing in the Morning, I went into our pipeline and focused on locking loans for clients looking to close over the next week or So.  We saw a lot of things impact the market, but you can read about that at www.coloradomortgagebanking.com/news.  Right now we are maintaining a FLOAT recommendation and we expect rates to fall tomorrow as unemployment is announced.  All of the Job indicators over the last three weeks show that the unemployment rate should come in high.  This higher unemployment rate will cause mortgage backed securities to gain momentum in its pricing sometime tomorrow.  In return this should send Colorado Home Mortgage rates back down.  We are hoping to get the same rates we saw earlier today.  The Mortgage Backed Securities did finish the day better then where the market closed yesterday.  This tells me that rates should have been slightly better today then yesterday, but this is not the case.  Instead the rates today finished worse then yesterday meaning that the bank currently holds the rate at a price point that indicates extreme caution.  We believe this took place to protect the investor from any market risk experienced earlier in the day.  Basically they are gun shy from having to display any rates that might produce less the favorable profitability positions in the event of a major sell off which investors witnessed today.  This will be adjusted tomorrow and Colorado Home Mortgage Rates will open the market better tomorrow making it a must float situation ending today.  Stay tuned and call me with any Colorado Home Mortgage questions you might have.

We saw some crazy things happen in the Mortgage Backed Securities market today.  Things appeared to start of great for Colorado Home Mortgage Loan rates and within 15 minutes we saw rates go from good to down right ugly.  Luckily I was able to lock a couple of people today that benefited from this mornings opening Colorado Home Mortgage Loan rate.  Once one lemming (investors) jumped off the cliff they all jumped off the cliff.  With in about 30 minutes Mortgage Backed Securities took a nose dive.  The only thing I was able to see that may have been the cause of this is the increased value of the dollar overseas.  This launched a buying frenzy in the stock market and in return reducing the demand in the Mortgage Backed Securities market.  Simply put people were not buying.  This coupled with a sudden drop in securities lead investors to believe that something was up and in return a number of investors sold.  Lemmings controlling other Lemmings.  Its sometimes amazes me at how reactive the market is.  Of course Colorado Home Mortgage Loan rates jumped up today as a result.

Colorado Home Mortgage Loan rates should have been impacted solely on the economic data provided today.  Our one inflationary report did come in higher, but it was so minimal that I actually believe it to be a victory.  Especially with the price of oil up where it is.  I was so happy to see Exxon Mobil post another record breaking profit margin in the 1Q 2008.  I realize that the previous 4 record breaking quarters were not enough and that they actually provide a superior service worth the 10.8 billion dollar increase in profits.  (In case you were not aware I am being Sarcastic)  I am all for free markets and I will continue to push policy out of the market, but can someone step up to the plate and provide some competition.  Exxon has proved that it entering the business can be profitable.  Colorado Home Mortgage Loan rates will continue to find itself struggling to make any real head way as long as inflation is a concern.  Inflation will be a concern as long as oil remains were it is at. 

Inflationary numbers did come in line despite the increase in oil.  This is probably due to the fact that as a society we are limiting our spending.  Colorado Home Mortgage Loan rates were moderately influenced by this data, but were heavily influenced by the jobless claim and the Job cuts report which both came in much worse then expected.  Now this is significant because of the incredibly low expectations set in these categories by investor expectations.  It was great news for the Mortgage Backed Securities market and it actually had us down to 5.5% for a Colorado Home Mortgage Loan rate.  I did lock a couple of people at that 5.5% today, but the rate only stuck around for about 15 minutes before sky rocketing out of the range.  We already explained why (lemmings).  All the information today indicates that rates should have stayed at the low levels seen this morning and instead we had investors put emotion in trading and in return they screwed up our market position.  Luckily even lemmings have to get it right.  We should see a couple more reports coming out tomorrow, one in particular to watch for will be unemployment rate.  Judging from the Jobless claims unemployment rate should come in high, which will be good for Colorado Home Mortgage Loan rates.  We will see that first thing tomorrow, and if I was unable to lock you today, tomorrow might be another lock day.  Fridays typically concern me, but this early in the month and the amount of economic reporting coming out, Friday should prove to be a very volatile day.  FLOAT remains my Colorado Home Mortgage Loan recommendation, but it is an 18 hour FLOAT recommendation.  I would encourage you that if you are reading this blog and have not locked in your rate that the first call you make tomorrow is to me.  We may have to act first thing tomorrow and we may need to LOCK you in fast.  Colorado Home Mortgage Loan rates are expected to drop, and Mortgage Backed Securities market should see some improvement first thing in the morning.  This means that Colorado Home Mortgage Loan rates will open the market lower and we may see some increases through the day if the economic data being released indicate anything better then expected.  Stay tuned and contact me with your Colorado Home Mortgage Loan questions.