Colorado Home Mortgage Banking

Colorado Home Mortgage Refinance rates appear to be heading back up a bit based on the sell off pressure in the Mortgage Backed Securities market.  Most of today’s pressure appears to be investors capitalizing on short term profits from the recent gains seen in the MBS market.  Today’s Economic data favored Colorado Home Mortgage Refinance rates but it has not shown up on today’s Colorado Home Mortgage Refinance rate sheets.  We should lock in a rate before we loose any ground in the market.  Colorado Home Mortgage Refinance rates may take a couple of days to recover, but it should get better.  I just don’t want you to get stuck in a small spike situation.  You will probably not loose out if you decide to float, but investors seem to be somewhat unpredictable with their sell and buy tendencies.  The economic data due to be released next week should give Colorado Home Mortgage Refinance rates another boost in its attempts to make up some of the increases seen from last week.

Colorado Home Mortgage rates should have reacted to the Economic data that was released today, but so far it has not had the reaction that we would have expected.  Jobless Claims, Leading indicators, and Philadelphia Fed Index all came in either meeting expectations or worse then expectations.  You can find out more about the actual data at www.coloradohomemortgageloan.net/news for now just know that the data was favorable to Colorado Home Mortgage Refinance market.  The Primary reason for Colorado Home Mortgage Refinance rates not moving on the information is due to profit takers looking for a short term gain by selling MBS.  Next week we will see another consumer sentiment report which rates people’s perception of the market  We expect that this report will come in at an new all time low.  This will have investors looking for a secure investment and will help drive Colorado Home Mortgage Refinance rate downward.  The consensus is that the report will come in around 57 which will set a new record low for this economic indicator.

Finally we need to look at the spread lenders are currently pricing into the Colorado Home Mortgage Refinance rate sheets.  It appears that the cushion that lenders had last week are now in line.  This is probably why we saw our late afternoon Colorado Home Mortgage Refinance rate improvements yesterday.  Please continue to stay tuned and don’t feel bad if you decided to FLOAT.  I do believe that Colorado Home Mortgage Refinance rates will see continued improvements through next week.  The reason I am making the Sort term Lock recommendation for your Colorado Home Mortgage Refinance rate today is strictly for people closing in the next 10 days otherwise we will remain with our FLOAT recommendation.  Please call me with your Colorado Home Mortgage Refinance questions and let me know how I can help you.

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 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 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

Looks like we had another good day for Colorado Home Mortgage Refinance Rates.  At this point we are preparing for a number of Economic reports that will impact the market over the next couple of days.  Colorado Home Mortgage Refinance Rates appear to be making up some ground lost in the last three weeks.  We are still looking at a rate of 5.875% for Colorado Home Mortgage Refinance Rates, but should see this drop by May 1st.  There is a pricing floor to break through before we see any real movements with interest rates.  This current floor appears to be set at 5.875%, and we are quickly seeing the barrier break, which means rates should drop down to 5.75% very soon.  Once the barrier breaks, interest rates will move quickly, and we may see enough activity in the data to lower rates back to our 4 week low.  We will keep our fingers crossed and will continue to report the direction we are moving. 

Consumer Confidence will be reported on tomorrow which should come in similar to Consumer Sentiment.  If this happens we will see another good day for Colorado Home Mortgage Refinance Rates.  Looking at the projections I do have a little bit to be concerned about.  Consumer Confidence has been trending higher then Consumer Sentiment this year. Experts are projecting that Consumer Confidence will actually come in lower then Consumer Sentiment this month.  This raises a bit of a red flag, in the sense that expectations are set too low, leaving room for Consumer Confidence to beat current expectations.  Historically when expectations in economic reports come in higher the projected Colorado Home Mortgage Refinance rates suffer.  Though this is a concern, I would not be too worried; we are still in for some rough economic news.  We expect the data reported tomorrow to be good for Colorado Home Mortgage Refinance Rates. 

Wednesday we will have our big end of the month numbers for GDP, PMI, and Federal Open Market Committee notes.  All you need to know is that we have enough data to break through the pricing floor of 5.875% which should put us back in line for a possible lock recommendation.  I will be making this recommendation at 5.75%.  If you want to gamble gambling may pay off.  Holding out another 10 days or so may get us the 5.5% we have been so desperately trying to get.  I will report more on Colorado Home Mortgage Refinance Rates tomorrow.  Be prepared to Lock quickly in the mean time we still have a FLOAT recommendation on your Colorado Home Mortgage Refinance Rate.  I will be explaining a little bit about the reports being released in the next day or two on www.coloradohomemortgageloan.net/news Sorry about the late post today, stay tuned after 1pm tomorrow for information regarding Consumer Confidence.  In the mean time call me with any of your Colorado Home Mortgage Refinance Rates questions:-)

Colorado home mortgage refinance rates were impacted by two main forces today, Durable goods report and a large injection of bonds into the Mortgage Backed Securities market.  Durable goods report came in earlier then expected and it came in well below expectations.  Initially Colorado home mortgage refinance rates reacted positively to the news and we saw the market price for bonds increase.  The increase in bond prices allows Colorado home mortgage refinance rates to decrease.  Just as things were looking bright for the day, a major portfolio lender injected 1.2 billion dollars in FHA Jumbo loans causing a drastic increasing in the supply of bonds.  Obviously when supply is high and demand is light prices will need to decrease in order to attract investors to buy Mortgage backed securities.  Colorado home mortgage refinance rates increase as bond prices decrease.  This was the primary reason for rates moving slightly higher then expected at the close of buisness today.  Colorado home mortgage refinance rates will more then likely trend upwards slightly tomorrow continuing on from todays trading activities.  Rates will also be impacted by investor confidence in what the Economic reporting will be like at the end of the week.  When you have a big Economic report like GDP being reported it is always easier to wait and see before investing too much in the market.  As investors slow down prices in the security markets tend to drop creating another slight increase in rates.  Right now I am sure that if you have not already locked earlier in the week you are committed to gambling on that fact that GDP will not meet expectations.  If this in fact happens you will see some nice decreases in the rate by mid to early next week.  I am continuing my FLOAT recommendation form earlier today, at this point you have called the market you might as well see if you have a winning hand.  My bet is that Colorado home mortage refinance rates will in fact drop by Monday or Tuesday of next week based on a predicted lower the expected GDP report coming out on Friday.  Check out my other site for more information: www.coloradohomemortgageloan.net/news.  Best of luck and God bless

Daniel