Colorado Home Mortgage Banking

We saw some crazy things happen in the Mortgage Backed Securities market today.  Things appeared to start of great for Colorado Home Mortgage Loan rates and within 15 minutes we saw rates go from good to down right ugly.  Luckily I was able to lock a couple of people today that benefited from this mornings opening Colorado Home Mortgage Loan rate.  Once one lemming (investors) jumped off the cliff they all jumped off the cliff.  With in about 30 minutes Mortgage Backed Securities took a nose dive.  The only thing I was able to see that may have been the cause of this is the increased value of the dollar overseas.  This launched a buying frenzy in the stock market and in return reducing the demand in the Mortgage Backed Securities market.  Simply put people were not buying.  This coupled with a sudden drop in securities lead investors to believe that something was up and in return a number of investors sold.  Lemmings controlling other Lemmings.  Its sometimes amazes me at how reactive the market is.  Of course Colorado Home Mortgage Loan rates jumped up today as a result.

Colorado Home Mortgage Loan rates should have been impacted solely on the economic data provided today.  Our one inflationary report did come in higher, but it was so minimal that I actually believe it to be a victory.  Especially with the price of oil up where it is.  I was so happy to see Exxon Mobil post another record breaking profit margin in the 1Q 2008.  I realize that the previous 4 record breaking quarters were not enough and that they actually provide a superior service worth the 10.8 billion dollar increase in profits.  (In case you were not aware I am being Sarcastic)  I am all for free markets and I will continue to push policy out of the market, but can someone step up to the plate and provide some competition.  Exxon has proved that it entering the business can be profitable.  Colorado Home Mortgage Loan rates will continue to find itself struggling to make any real head way as long as inflation is a concern.  Inflation will be a concern as long as oil remains were it is at. 

Inflationary numbers did come in line despite the increase in oil.  This is probably due to the fact that as a society we are limiting our spending.  Colorado Home Mortgage Loan rates were moderately influenced by this data, but were heavily influenced by the jobless claim and the Job cuts report which both came in much worse then expected.  Now this is significant because of the incredibly low expectations set in these categories by investor expectations.  It was great news for the Mortgage Backed Securities market and it actually had us down to 5.5% for a Colorado Home Mortgage Loan rate.  I did lock a couple of people at that 5.5% today, but the rate only stuck around for about 15 minutes before sky rocketing out of the range.  We already explained why (lemmings).  All the information today indicates that rates should have stayed at the low levels seen this morning and instead we had investors put emotion in trading and in return they screwed up our market position.  Luckily even lemmings have to get it right.  We should see a couple more reports coming out tomorrow, one in particular to watch for will be unemployment rate.  Judging from the Jobless claims unemployment rate should come in high, which will be good for Colorado Home Mortgage Loan rates.  We will see that first thing tomorrow, and if I was unable to lock you today, tomorrow might be another lock day.  Fridays typically concern me, but this early in the month and the amount of economic reporting coming out, Friday should prove to be a very volatile day.  FLOAT remains my Colorado Home Mortgage Loan recommendation, but it is an 18 hour FLOAT recommendation.  I would encourage you that if you are reading this blog and have not locked in your rate that the first call you make tomorrow is to me.  We may have to act first thing tomorrow and we may need to LOCK you in fast.  Colorado Home Mortgage Loan rates are expected to drop, and Mortgage Backed Securities market should see some improvement first thing in the morning.  This means that Colorado Home Mortgage Loan rates will open the market lower and we may see some increases through the day if the economic data being released indicate anything better then expected.  Stay tuned and contact me with your Colorado Home Mortgage Loan questions.