Colorado Online Mortgage rates increased over the weekend. Profit seekers sold off bonds
Colorado Online Mortgage rates jumped up over the weekend. Investors used a sell strategy in the bond market to capitalize on short term profits. Bonds hit a low point last Monday and Tuesday which sparked a buying frenzy in the Colorado Online Mortgage market. Those investors that bought early last week were looking to cash in this week and began selling over the weekend as a result.
Colorado Online Mortgage rates should have seen very little movement due to economic reports released today. You can find out the specifics on these reports at www.coloradohomemortgageloan.net/news Here we will stick to the basics. New Home Sales for April came in a bit higher then expected, but not enough to affect Colorado Online Mortgage Rates. The better then expected numbers did spark some experts to cry out recovery, but I still believe we have a long way to go. On a good note, for those that believe that home prices are dropping, the median home value actually increased 1.1% from last year. It just goes to show you that the media will only report what is going wrong in the home market rather then reporting all the information. This leads me to our last economic report Consumer Confidence. Colorado Online Mortgage rates will certainly be impacted on peoples perceptions of what is going on in our economy and right now people are just down right down. Confidence numbers came in at a 16 year low and appears to be dropping lower and lower every time the report comes out. Colorado Online Mortgage rates should have improved based on the information but that did not take place today.
Colorado Online Mortgage rates were instead impacted by profit seekers. These profit seekers went on a selling spree which started on Saturday and continued through the weekend. At this point Colorado Online Mortgage rates were impacted by simple economics. Supply and Demand were the key components in the market today. Demand was low and supply was high. This required bond prices to drop until the demand increased enough to spark activity. When bond prices drop Colorado Online Mortgage rates will go up. Our recommendation for the moment is too FLOAT. We believe that the profit takers in the market may have undervalued the market a bit which means we may have room for recovery by the end of the week.
Colorado Online Mortgage rates should see some heavy activity in the next two day. Durable goods and Preliminary GDP will be announced on Wednesday and Thursday respectively. These reports are major movers in the economy and if for any reason you believe the market is improving then LOCKING should be your only decision. Colorado Online Mortgage rates will certainly suffer if these reports come in better then expected. The experts have low expectations predicted on these reports making it difficult to assess whether the reports will be better or worse the current consensus. Regardless the data will be bad its just how bad it will be will create the driving force for Colorado Online Mortgage rates. I am still recommending my clients to FLOAT simply because the economic forecast so far have indicated poor performing data. However I am running about 85% in my forecasts and I could be wrong. Those that want to take the uncertainty out of the market should lock immediately; those of you who want to ride it out, should wait until Friday before locking. The wait could pay off about .25% better then the current 6.0% Colorado Online Mortgage rates currently being offered.
Please feel free to call me with your Colorado Online Mortgage questions. I hope that your 3 day weekend went well and I look forward to servicing you in the near future.
Daniel
