Colorado Online Mortgage rates appear to be unchanged by market headlines
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
Tags: Colorado Online Mortgage, Mortgage Backed Securities, Online Mortgage, Rates
