Colorado Home Mortgage Banking

Colorado Home Mortgage Loan rates saw some relief from a variety of economic reports indicating no major surprises.  Inflationary numbers appeared to be in line with expectations and the feared increases in inflation brought on by the Federal Reserve appear for now to be overstated.  Colorado Home Mortgage Loan rates dropped a bit on the news, but best of all, rates don’t seem to be climbing.  A much needed break from what Colorado Home Mortgage Loan rates have been doing over the last couple of weeks.  It may take some time before we see Colorado Home Mortgage Loan rates drop significantly, but for now we are heading in the right direction.  We had four economic reports released today, you can read more about their exact impacts at www.coloradohomemortgageloan.net/news but the overall effect from these reports were positive.  I am maintaining a FLOAT recommendation through Thursday, mainly because not all of the Colorado Home Mortgage Loan rate improvements have shown up on the investor rate sheets.  Much of the improvements are being held back right now in the event something else rocks the bond market as sparks another sell off of Mortgage backed Securities.

Colorado Home Mortgage Loan rates still appear to be undervalued in the bond markets. Based on the economic data reports; we still have some room to see rates trickle down even further.  The MBS market closed 14 ticks higher then when it closed yesterday, which translates to about 1/8^th better for Colorado Home Mortgage Loan rates.  We should continue to see improvements tomorrow as no economic data will be released.  The lack of data allows headlines to dictate market movement, and we have already seen a bulk of the bad headlines make its way into the market.  I am expecting Colorado Home Mortgage Loan rates to maintain its current downward direction through tomorrow.  Thursday will be another big day on the economic reporting front with three additional reports will find its way into the market.  Jobless claims, leading indicator, and Philadelphia Fed Index are all due to report, and based on the consensus, I believe we could have another good day for Colorado Home Mortgage Loan rates. 

We should not forget that we still have some major obstacles to overcome before Colorado Home Mortgage Loan rates see anything below the 6.0% range.  It has been awhile since I recommended a LOCK situation and would advise you to seriously look at locking tomorrow if in fact you are closing in the next 10 days.  My goal for your Colorado Home Mortgage Loan rates is to see it at 6.0% or below.  I have had to move my Colorado Home Mortgage Loan rate lock recommendation up and up based on market conditions, but we have been able to lock in under small pockets of rate drop periods.  It has been very tough over the last 3 weeks and we have had the FLOAT recommendation ever since.  I believe if we continue to see the movement we are seeing over the last few days Colorado Home Mortgage Loan rates may find its way back to 6.0%.  Right Now I do not see that in the cards for at least another 2 weeks, which means a lot of momentum needs to show up before Colorado Home Mortgage Loan rates drop to that point.  If time is not on your side, we have other options to keep you below 5.5%, but these options are only a temporary fix.  If you need to LOCK today and only want a FIXED rate option then 6.25% will be the Colorado Home Mortgage Loan rate to settle for.

Please call me with your Colorado Home Mortgage Loan rate questions and give us a chance to show you what we can do for you.

Daniel