Colorado Home Mortgage Banking

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 

Tags: Colorado home, Home Mortgage, Mortgage, Rates, refinance

This entry was posted on Wednesday, March 26th, 2008 at 7:01 pm and is filed under Colorado home mortgage refinance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.