Mortgage Backed Securities Have drop and as a result Colorado Online Mortgage Rates have come up
Looking at the Colorado Online Mortgage rate sheets being released today, it has become clear that Locking today would be locking at a high point. Colorado Online Mortgage rates are at a 4 week high and today’s Stock market activity has not helped at all. You can find out more about that at www.coloradomortgagebanking.com/news for now we will focus on what is in store on the economic calender. The Mortgage Backed Securities market will be at full alert come April 30th when the Federal Reserve meets and the Gross Domestic Product reports. These two events will certainly drive Colorado Online Mortgage rates in one direction or another. Until then the Economic Calender appears to be short on reports. The only other real market moving report to be released before then will be the Durable Goods report due out on April 24th. Colorado Online Mortgage Rates will be heavily influenced by information coming out of the stock market over the next few days. So far the Stock market has released a variety of Corporate Profit reports that have shown to be hurtful to the bond market. The news has also contributed to the increases being felt on Colorado Online Mortgage rates. Looking at investor released rate sheets this morning it is clear to me that they are not pricing their Colorado Online Mortgage programs for people to lock today. This could be due to the uncertainty in the market, but it also has to do with the number of loans they have locked in place already. They have projected a light volume day and their Colorado Online Mortgage Pricing shows that. Rates started a bit higher today then they should have based on the market yesterday, however if the market has another late day rebound, pricing should improve later today. In the mean time I will Continue to recommend FLOATING. I make that recommendation with caution. We are entering into a time that is tough to predict what investors will do. The normal predictability that takes place based on economic data has not shown itself in the market. I believe that this gives us a much bigger window of improvement, but in the past when this has happened, Colorado Online Mortgage Rates jumped about .75% before relief was felt. Though Colorado Online Mortgage rates did drop again, people who were closing during that 4 week window faced some tough decisions on where their rate finally finished off at. If next weeks durable goods report send Colorado Online Mortgage rates up,April will be a tough month as it relates to Colorado Online Mortgage rates. Stay tunedand call me with questions.
