Colorado Home Mortgage
What a day for Colorado home mortgage rates. Those that took advantage of the lock recommendation will enjoy some of the best Colorado Home Mortgage rates we have seen this year. The Federal Reserve lowered short term interest rates by .75% which is lower then what most Colorado Home Mortgage lenders projected. We should have seen Colorado Home Mortgage rates drop even further but investors can be irrational and a frenzy took place. Colorado Home Mortgage rates jumped up early morning and continued with no end in sight. I was able to lock 5 clients yesterday and 8 clients today and Yes Derek you just made it under the wire. I had one investor who appeared to forget that the market was going crazy and left rates somewhat unchanged which benefited some of the late locks put in. I would continue to monitor the market but the frenzy told us that inflation still tends to be a concern for Colorado Home Mortgage rates. People seem to think when the Federal Reserve drops rates that long term rates improve, that could not be further from the truth, but in this case the market already projected a 1% decreases in the Ferederal Reserve funds rate and rates should not have dropped, we are humbled by how quickly things can change and need to be reminded that when the rate is right we need to Lock. I have no idea what the market will do but if you have not locked yet we may want to float for a day or so, but be prepared for another Colorado Home Mortgage alert to Lock. Good night and Good luck:-)
Tags: Colorado Home Mortgage, Federal Reserve, Home Mortgage, Rate
