Colorado Home Mortgage Banking

Colorado home loan rates saw some relief in the market today.  We had a very tough day yesterday and saw Colorado home loan rates jump up about .25%.  Today we have recovered some of the losses from yesterday, but we still have some ground to make up to recover completely from yesterdays losses.  I believe that the market will continue to improve up through Tuesday and at this point will recommend that you continue to FLOAT.  If you are conservative in anyway and want to take the risk out of the market then go ahead and LOCK.  You should be able to get 5.75% on your 30 year fixed Colorado home loan rate program.  The only economic report that came in today was the Existing home sales data.  The data indicated better then expected sales numbers and as a result held Colorado home loan rates from improving even more.  Though the data came in slightly better then expected it still came in below 5 million which is historically low.  Following the Existing home sales numbers, were current home inventory numbers which recorded its highest level since 1985. 

Colorado home loan rates probably saw most of its improvements due to the fact that the Mortgage Backed Securities market appeared to be slightly undervalued making it a good buy.  The 10 year treasury saw some great improvement creating an even bigger separation in price between the 5.5% coupon bond and the 10 year Treasury note.  In simple terms it means that we have room for additional improvements with Colorado home loan rates in the short term and will probably see most of the losses experienced from yesterday regained by Wednesday next week. 

We have several economic data releases due out next week and all of them will play a role in how Colorado home loan rates will move.  You can find out more about these reports at www.coloradohomemortgageloan.net/news  Please let me know if you have any Colorado home loan questions and have a safe weekend.

Daniel