Colorado Home Mortgage Refinance rates will be tied to the Stock Market
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
Tags: Colorado home mortgage refinance, Home Mortgage, Rates, Stock Market
