Colorado Home Mortgage Banking

Colorado Home Mortgage Refinance rates appear to be heading back up a bit based on the sell off pressure in the Mortgage Backed Securities market.  Most of today’s pressure appears to be investors capitalizing on short term profits from the recent gains seen in the MBS market.  Today’s Economic data favored Colorado Home Mortgage Refinance rates but it has not shown up on today’s Colorado Home Mortgage Refinance rate sheets.  We should lock in a rate before we loose any ground in the market.  Colorado Home Mortgage Refinance rates may take a couple of days to recover, but it should get better.  I just don’t want you to get stuck in a small spike situation.  You will probably not loose out if you decide to float, but investors seem to be somewhat unpredictable with their sell and buy tendencies.  The economic data due to be released next week should give Colorado Home Mortgage Refinance rates another boost in its attempts to make up some of the increases seen from last week.

Colorado Home Mortgage rates should have reacted to the Economic data that was released today, but so far it has not had the reaction that we would have expected.  Jobless Claims, Leading indicators, and Philadelphia Fed Index all came in either meeting expectations or worse then expectations.  You can find out more about the actual data at www.coloradohomemortgageloan.net/news for now just know that the data was favorable to Colorado Home Mortgage Refinance market.  The Primary reason for Colorado Home Mortgage Refinance rates not moving on the information is due to profit takers looking for a short term gain by selling MBS.  Next week we will see another consumer sentiment report which rates people’s perception of the market  We expect that this report will come in at an new all time low.  This will have investors looking for a secure investment and will help drive Colorado Home Mortgage Refinance rate downward.  The consensus is that the report will come in around 57 which will set a new record low for this economic indicator.

Finally we need to look at the spread lenders are currently pricing into the Colorado Home Mortgage Refinance rate sheets.  It appears that the cushion that lenders had last week are now in line.  This is probably why we saw our late afternoon Colorado Home Mortgage Refinance rate improvements yesterday.  Please continue to stay tuned and don’t feel bad if you decided to FLOAT.  I do believe that Colorado Home Mortgage Refinance rates will see continued improvements through next week.  The reason I am making the Sort term Lock recommendation for your Colorado Home Mortgage Refinance rate today is strictly for people closing in the next 10 days otherwise we will remain with our FLOAT recommendation.  Please call me with your Colorado Home Mortgage Refinance questions and let me know how I can help you.

Daniel