Colorado Home Mortgage Banking

Colorado Home Mortgage Loan rates have reached the inevitable Ceiling of resistance in the Mortgage Backed Securities market.  For those who do not know what the Colorado Home Mortgage Loan price Ceiling is will need to pay special attention to what is said next.  The bond market has certain price points that investors become very cautious at, and the demand curve changes when these price points are achieved.  However once the price point is penetrated a new pricing Ceiling will be defined.  Like a price Ceiling, bonds can also have a price Floor that will react in a similar manner.  The price floor or price ceiling is determined by the direction bond prices are going. 

Now that I royally confused you let me give you an example of what I mean.  Let’s say the price of a bond is $100 and investors begin to buy and sell those bonds depending on the demand.  All of a sudden something is reported in the economic data that favors bond prices and the $100 bond begins to rise; $101, $102, $104, $107 . . . and so on.  Obviously as the bond price increases, Colorado Home Mortgage Loan rates begin to decrease.  There is an Inverse relationship between bonds and Colorado Home Mortgage Loan rates.  Anyways, as the price of the bond increases it tends to increase fairly quickly, but at a certain price point investors change their demand.  The point where demand for bonds changes is the point where bonds hit the proverbial wall of resistance.  In this example that might be $110. This is a point that the market will not generate any additional demand for bond price increases. In the event this happens Colorado Home Mortgage Loan rates will be held in its place until something different happens in the market to create more demand.  In order to create more demand additional economic data will need to make its way into the market that favors Mortgage Backed Securities.  If this happens then the price ceiling barrier will be broken and a new price ceiling will be established.

How does that impact your Colorado Home Mortgage Loan rates today?  Well we are hovering right around that 6.25% and 6.0% range for the 30 year Colorado Home Mortgage Loan rate.  If we have additional economic news reporting, that favors Colorado Home Mortgage Loan rates we might see the 30 year fixed rate move below 6.0% again.  Right now we are just waiting for something to happen.  Today, we did not get the push we needed to break that point of resistance.  In a short week it is hard to determine what might be needed to see Colorado Home Mortgage Loan rates drop below that 6.0%.  We have a very big day on Thursday which will set the tone for Colorado Home Mortgage Loan rates for the month of July.  Historically the summer months have not favored Colorado Home Mortgage Loan rates, and so far history has repeated itself.  We are looking for any reason for rates to improve, but it seems that anytime we have nice improvements, inflationary pressures came back in the Headlines.  So we need to look at what will happen and when is the best time to react.  If you are looking to lock in your Colorado Home Mortgage Loan rate in the near future then LOCKING now would be a good idea.  Most lenders have priced in the improvements seen in the Colorado Home Mortgage Loan market last week.  You should be able to get 6.0% today, and if it is offered you should take it.  If you are looking to close your loan in the next couple of weeks then Floating until Thursday may pay off.  However the risk/reward ratio does not appear to favor you.  My recommendation for today is to LOCK.  You will be .25% better then anything last week and about .5% better then two weeks ago. 

I will be keeping a close eye on all the reports due to be released this week.  If you want a brief explanation remember to visit my other site: www.coloradohomemortgageloan.net/news if you have any Colorado Home Mortgage Loan questions please let me know.  I hope to service you in the near future.    

Colorado Home Mortgage blogs can sometime be dry and long so I will summarize by blog in the first paragraph and if you want more detailed information then I will encourage you to read on for more information.  Colorado Home Mortgage rates have hit the LOCKING window we have been waiting for.  Today we can get the 5.75% without any points which means LOCKING is the way to go.  I have several Clients that will have a chance to get LOCKED in today.  We have several influences in the Market that can have negative effects on Colorado Home Mortgage rates.  You can gamble, but the risk reward will not be worth it.  Jobless claims did come in better then expected and The Bank of England did not raise rates.  Nothing out of the ordinary, but Colorado Home Mortgage rates appear to be doing what we want.

Jobless Claims came in today lower then expected.  The initial jobless claims were expected to be 375K but actual data indicated that it was only 365K.  Normally this would have caused Colorado Home Mortgage rates to go up, but so far the market is holding strong.  In fact we are seeing slight improvements, which means we may want to look at locking your Colorado Home Mortgage rate soon.  I will be watching the market very closely this morning and may be calling you for a LOCK recommendation. 

The Bank of England held their short term interest rates right where they were.  It appears that the board in Europe has taken a strong approach locally to fight inflation.  Our Federal Reserve System seems to be more aggressive in their actions.  This will make foreign bond investments more profitable the U.S. investments, which may cause investors to start buying internationally versus here at home.  Regardless the news was not unexpected and has kept its influence out of the market so far.  I have reported several times in the past about the pricing gap between the 10 year treasury and the 30 year 5.5% fixed bond.  These two financial instruments tend to trade in similar circles and move up and down at the same rate.  Over the last few months there appears to be a larger then normal gap between these two securities.  In short, Treasury’s are trading higher then its partner the Mortgage Backed Security.  Colorado Home Mortgage rates should be slightly better assuming that these two financial instruments trade where they are supposed to.  This may explain some of the improvements we are seeing lately.  I will be looking at several banks today and making some assessments on the loans that will be closing soon.  Those Colorado Home Mortgages closing in the next couple of weeks should probably be LOCKED today.  We can get the 5.75% and LOCKING is my recommendation. 

If you are a risk taker then we may have a few more days where rates can improve.  It may even drop us to the 5.5% range, but I will not be recommending client to wait to long.  Here is why I have issues with waiting and why LOCKING your Colorado Home Mortgage rate is so attractive.  Investors have been overly cautious in their projections and though the economic reports are still bad they are all coming in better then projected.  Better then projected economic data causes problems for the Mortgage Backed Securities market.  Colorado Home Mortgage rates will go up as bond prices drop.  Investors are getting their confidence back in the Stock Market and this will cause unwanted pressure in the Bond market.  Another big issue is oil.  I have talked about this over and over so I will make it short.  Oil causes inflationary issues, which again is bad for Colorado Home Mortgage rates.  I don’t see any other solution to slow down inflation except for drastic decreases in the price of oil.  I don’t believe that will happen anytime soon.  All the negative influence in the bond market seem to be there and when we have a small window of opportunity to LOCK a good rate then LOCKING will be my recommendation.  I set the bar at 5.75% and we will have several people locked in today at that rate.  Call me with your Colorado Home Mortgage questions and check out www.coloradohomemortgageloan.net/news for in-depth economic data information.  Thank you for reading.

So far we have seen a lot of activity in the mortgage backed securities market, but we have not seen Colorado Online Mortgage rates move from yesterdays closing bell.  The market continues to focus on headline news and so far it appears that the news is light.  A couple members of the Federal Reserve did moan and grown about inflation, but so far it has not caused Colorado Online Mortgage rates to go up.  Inflation will be a hot topic for some time, especially as oil continues to rise.  I am seeing reports online that have indicated that the oil reserves may not be where they thought they would be, which will certainly increase the cost of oil.  Fear of supply always translates to higher prices.  Colorado Online Mortgage rates will take hits as long as oil continues to rise. 

I will not go into a long drawn out discussion on my belief’s as it relates to oil, but think about this; If Oil companies are currently setting record breaking profitability quarter after quarter, eventually that profitability has to slow down.  Well one way to continue the profitability increasing is to create fear about supply issues.   I wonder who is pushing these reports and how accurate they really are.  It is truly a monopoly and we are at their mercy:-(  Colorado Online Mortgage rates are not the only thing impacted by these companies our economy as a whole feels the pain.  Politicians are taking notice, but no one is taking action.  Anyways I can go on and on, but the fact of the matter is that we have a real problem in store as it relates to inflation, and that problem originates from oil.

Colorado Online Mortgage rates are seeing small improvements from a variety of smaller economic reports being released today.  Productivity appears to be high, but inflationary pressure related to Non-Farming industries appears to be lower then initially expected.  Taking out the cost of fuel from the inflationary data inflation appears to be trending considerably lower then expected.  Americans are just not spending at the same rates the once were.  Colorado Online Mortgage rates appeared to be trending in safer waters, but not enough to change the rate below the current 5.875% figure being reported.  Pending Home sales index also registered another decrease in Home sales.  It appears that the negative sales growth in Home sales has not slowed down yet.  This also tends to be good news for Mortgage Backed Securities, and home sales did came in line with investor projections.

I don’t expect a lot of activity that will change Colorado Online Mortgages rates for the better or for the worse today.  I will keep my Lock recommendation at 5.75%, and today that LOCK does carry a bit of a cost.  5.875% does appear to be the going rate for our 30 year fixed rate programs with no points.  I will keep you posted on some additional economic information tomorrow, especially since we do have the Jobless claims report coming out.  Jobless Claims will make Colorado Online Mortgage rates move in one direction or the other depending on how the data comes out.  In the mean time call me with any of your Colorado Online Mortgage questions.  When you have time find out more about the economic reports being released today and how they impact Colorado Online Mortgage rates at www.coloradohomemortgageloan.net/news  

Daniel

The lack of Economic news continues to have investors looking to the stock market for signs.  Colorado Home Mortgage rates started off stable this morning as retailers continued to report week by week decrease in sales, causing investors to have some concerns about the risk in stocks.  The day appeared to be heading in the right direction and Mortgage Backed Securities began to trade a bit higher then yesterday.  This was short lived, as the headlines reported that Disney had higher then expected 1Q profits.  The news forced money out of the bond market and into the stock market. This may be the reason for the late day rally in the Stock Market.  Colorado Home Mortgage Rates did jump a bit late this afternoon, and we may see Colorado Home Mortgage rates continue to rise tomorrow morning.  Having just watched Lilo & Stitch with my 2 year old I can understand the success Disney has reported and unlike any of the oil companies, I actually feel good about where they are going.  Colorado Home Mortgage rates will however, continue to be impacted by headlines throughout the week.  We have a couple of reports coming out tomorrow which can change the momentum and hopefully push Colorado Home Mortgage rates back down.  We will watch these reports tomorrow and give you an updated on where the market is heading.  I do have some concerns building up lately.  Everything I am seeing in the market shows that we have some tough times ahead as it relates to Colorado Home Mortgage rates.   We will continue to set our locking point to 5.75%.  I have several people holding out and unless the momentum changes, we may want to go ahead and start locking in your Colorado Home Mortgage rate. 

There are several things that I am concerned with, the biggest issue I have relates to how investors currently view the economy.  I believe investors have been hit so hard for poor projections that they have become ultra conservative.  The conservative approach has caused investors to project data at extremely low levels.  In theory investors use this information and act accordingly as they buy and sell investments.  Typically, investors will buy Mortgage Backed Securities during tough times and stocks during good times.  When investors project poor economic data in the near future, activity in the bond market will increase.  This will cause Colorado Home Mortgage rates to improve.  The problem I am having recently is that I just don’t believe that investors are responding to the market according to the projections shown. This is causing the Mortgage Backed Securities market to be under inflated.   Now when the actual data comes out investors have been reacted accordingly, causing the market to fluctuate up and down depending on what the economic data shows.  The only proof I can give that will show the market is under inflated is the relationship between the 10 year Treasury bond and the 5.5% coupon bond.  The 10 year treasury and the 30 year 5.5% coupon bond has shown signs which indicates a larger then expected pricing gap.  The gap used to be much greater, but over the last couple of weeks has dissipated a bit.  Though the gap is smaller we still have some room to move. Colorado Home Mortgage rates will see the benefits of the gap reduction over time, but it will take some time.  This will all come down to investor confidence in the Mortgage Backed Securities market.  Right now investors are not showing the confidence needed to reduce Colorado Home Mortgage rates down where we would like to see them.  It is hard to project when investor confidence will return, but all the negative press about Colorado Home Mortgage companies going out of business or needing help certainly does not build the momentum we need.  Countrywide and Fannie Mae are good examples of why investor confidence is so low.

The next issue I see is the continued inflationary risk in oil.  It is obvious that when shipping cost increases the increase in cost is passed down to consumers.  The increased pricing causes inflationary pressure, which adds more bad news for Colorado Home Mortgage rates.  We will see this issue in the market for some time to come.  Another problem facing Colorado Home Mortgage rates is corporate profitability.  The corporate profitability reports have shown some real surprises in 1Q 2008.  Several companies projected to report poor profitability actually reported that profitability was up.  Adding fuel to the fire was the number of Mortgage companies that have indicated that their default rates will continue, causing sever profitability issues in the future.  Countrywide continues to be the Headline leader in bad mortgage performance, but out just today, Fannie Mae has reported similar issues in their holdings.  This has investors concerned about a possible bail out needed from the Federal Reserve.  This will certainly add to an already unstable Mortgage Backed Securities market and will have investors continuing their conservative approach in the market. 

My recommendation is to LOCK if and when you can get the recommended Colorado Home Mortgage rate of 5.75%.  Its looking like 5.875% will be around for some time.  Luckily we did hit a pricing ceiling at 5.875% so the rate will hold strong, but any major news can have rates going to 6.0%.  I will be watching the Colorado Home Mortgage market very closely over the next few days.  We may have to suck it up and simply lock while we are under the 6.0% range.  Call me and I will be happy to answer your Colorado Home Mortgage questions.  I had a crazy busy day to day that had me in and out of the office, so I apologize for not getting the Colorado Home Mortgage information out to you sooner.  In retrospect rates did not move much if any since yesterday and seem to be lingering around the 5.875% range.  I will post earlier tomorrow.

As I have stated before I will summarize the blog info in the last paragraph so here it is in the simplest of terms.  Colorado Home Mortgage rates today are at 5.875%.  These rates will be impacted by any Headline news because economic data this week is light.  The Headlines had Disney showing stronger then expected profits which caused Colorado Home Mortgage rates to go up a bit.  The Colorado Home Mortgage rate did not go up enough to hit 6.0%.  We expect the Market to start off poorly tomorrow riding out the news seen today.  We have a couple of reports that may help rates but will not know until these reports are released.  Right now if you can get 5.75% at all I would LOCK.  If you are a gambler we do have a long way to go in order to get below 5.75%.  Today 5.75% will have an additional cost to it, I am hoping that the cost goes away by the end of the week at which time I will have a strong Colorado Home Mortgage LOCK recommendation in place.  Call me with your Colorado Home Mortgage questions.  Thank you for reading and please remember to visit www.coloradohomemortgageloan.net/news for more information.

Daniel

Colorado Home Mortgage Refinance rates will be tied to the stock market this week as economic reporting will be light.  Country Wide lowered their selling price from $7 a share to $2 a share drawing concern about the stability and financial strength they once had.  Colorado Home Mortgage Refinance rates are currently holding its position.  As you know Colorado Home Mortgage Refinance rates did trend up over the last week or so based on some stronger then expected economic data released during the week.  Each report seemed to indicate that the economy has started to make a recovery and investors are beginning to hold out hope that we are on an upward trend.  Only time will tell us if that is true.  The ISM report came out which shows any fluctuations in service pricing over a period of time.  These fluctuations are used by the Federal Reserve to monitor inflationary pressures.  A high report here correlates with a higher then expected inflation trend.  Inflation will cause Colorado Home Mortgage Refinance rates to go up.  When the report was released today, Colorado Home Mortgage Refinance rates did jump up by an 1/8th.  We have since recovered that 1/8th due to the current decreases in the stock market. 

This week will continue to be a light reporting week, so stay tuned to the stock market.  If you see the Stock Market going up, then expect Colorado Home Mortgage Refinance rates to do the same.  A decrease in the stock market will cause Colorado Home Mortgage Refinance rates to drop.  I will keep you posted, but in the mean time please call me with any Colorado Home Mortgage Refinance questions.

For those who are confused about what I said, let me quickly summarize it for you.  Colorado Home Mortgage Refinance rates are holding steady at 5.875% with no points.  We expect Colorado Home Mortgage Refinance to remain unchanged over the next few days.  The biggest variable to watch for any movement in the rates will be the Stock market.  If stocks go up rates go up and so on.  We will have a couple small reports coming out that will make rates move a bit, but not enough to go into full explanations on.  Our next big report will be jobless claims which are due out on Friday.  Colorado Home Mortgage Refinance recommendation remains at a FLOAT.  Remember based on what we are seeing our new LOCK level is 5.75%.  Best of luck and please call with questions.  Take a look at

Some very unexpected news in relation to employment numbers hit the market first thing this morning.  As a result Colorado Online Mortgage Rates hit this weeks peak.  We saw a glimmer of hope on Wednesday and again Thursday morning when Colorado Online Mortgage Rates dropped, but much of the rate reductions given on these two days been now been loss due to better then expected economic data.  Thursday afternoon and now Friday had several reports come in better then expected.  Nothing more damaging then the Non-farm Payroll numbers which reported almost 3 times higher then expected.  This came out of no where and it has caused Colorado Online Mortgage Rates to increase about .25%.  We are now looking at rates in the 5.875% range for those thinking about locking your Colorado Online Mortgage Rate.  Our recommendation at this point is an easy one and that is to FLOAT. 

The Non-Farm payroll Employment report looks at employment figures for all business sectors accept agricultural.  This report comprises the biggest employment sector in our economy and is a good measure of economic stability.  Colorado Online Mortgage rates will certainly react to the data being released.  Investors will typically buy Mortgage Backed Securities when economic data signals are weak, but when they come out strong like they did today, investors are more likely to sell.  The selling of Mortgage Backed Securities will cause Colorado Online Mortgage rates to go up.  The problem with this report, and the part I don’t like, is that it can be adjusted at a later date.  So numbers being reported may adjust up or down depending on what the actual data comes in at.  Several survey firms gathering preliminary numbers showed a significant difference in the data that was expected versus the actual employment numbers released today.  This leads me to speculate on future adjustments.  Regardless investors take each economic report as it is written and the Colorado Online Mortgage Market reacts accordingly. 

Luckily we have some light reporting next week, which means that the Headlines will dominate most of the movement for Colorado Online Mortgage Rates.  Though the reporting will be light,  We do have a couple of reports coming out that will impact Colorado Online Mortgage Rates. Two reports to keep an eye on, one on Monday ISM Service report and one on Friday, Jobless Claims.  Monday we will have the ISM Sector report.  This report does give us an indication of inflationary pressures in the service sector.  The Federal Reserve tends to keep a close eye on this report and you can bet that the Colorado Online Mortgage market will watch it too.  Remember inflationary numbers are bad for Colorado Online Mortgage Rates.  So we are hoping to see this months ISM report come in as expected.  Finally Jobless claims have been reporting poorly for two months and it is projected to come in low again.  If this happens we should see rates improve again.  Stay tuned and have a great weekend.  Call me with your Colorado Online Mortgage Rate questions. 

Quick note I just logged into the market and it appears that we are beginning to recover some of the losses felt earlier today, we actually made back everything lost so far this morning.  That is good news going into the weekend:-)

A real rollercoaster ride was experienced in the market today.  Colorado Home Mortgage rates started the day off great, coming in line with our Lock recommendations set earlier in the week.  1st thing in the Morning, I went into our pipeline and focused on locking loans for clients looking to close over the next week or So.  We saw a lot of things impact the market, but you can read about that at www.coloradomortgagebanking.com/news.  Right now we are maintaining a FLOAT recommendation and we expect rates to fall tomorrow as unemployment is announced.  All of the Job indicators over the last three weeks show that the unemployment rate should come in high.  This higher unemployment rate will cause mortgage backed securities to gain momentum in its pricing sometime tomorrow.  In return this should send Colorado Home Mortgage rates back down.  We are hoping to get the same rates we saw earlier today.  The Mortgage Backed Securities did finish the day better then where the market closed yesterday.  This tells me that rates should have been slightly better today then yesterday, but this is not the case.  Instead the rates today finished worse then yesterday meaning that the bank currently holds the rate at a price point that indicates extreme caution.  We believe this took place to protect the investor from any market risk experienced earlier in the day.  Basically they are gun shy from having to display any rates that might produce less the favorable profitability positions in the event of a major sell off which investors witnessed today.  This will be adjusted tomorrow and Colorado Home Mortgage Rates will open the market better tomorrow making it a must float situation ending today.  Stay tuned and call me with any Colorado Home Mortgage questions you might have.

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.

Colorado Home Loan rates have not moved at all today.  We had GDP and PMI reported earlier today and both reports made very little impact up or down for Colorado Home Loan rates.  These reports did come in slightly above expectations, but it was close enough to say expectations were met.  Normally this would have a negative impact on Colorado Home Loan rates, but so far the impacts have not been felt in the Mortgage Backed Securities Market.  We are now waiting in anticipation for what the Federal Open Market Committee has to say.  We are all hoping that they do not make any comments about inflation.  Inflation talk will certainly be bad for rates.  We do have a large number of other economic reports coming out over the next couple of days and we are hoping that the data will be good for Colorado Home Loan rates.    Currently Colorado Home Loan Rates are still trending at that 5.875% - 5.75% depending on which investor and at what cost.  If the FOMC reports as expected and don’t do anything unexpected we believe that Colorado Home Loan rates will begin to see some improvements.  I will be out for lunch when the FOMC finally reports and will give you a quick recap later today.  In the mean time we are still recommending a FLOAT on your Colorado Home Loan rate, but we are heading into the eye of the storm and will be in for a bumpy ride if the information released later today does not come in as expected. 

Looks like we had another good day for Colorado Home Mortgage Refinance Rates.  At this point we are preparing for a number of Economic reports that will impact the market over the next couple of days.  Colorado Home Mortgage Refinance Rates appear to be making up some ground lost in the last three weeks.  We are still looking at a rate of 5.875% for Colorado Home Mortgage Refinance Rates, but should see this drop by May 1st.  There is a pricing floor to break through before we see any real movements with interest rates.  This current floor appears to be set at 5.875%, and we are quickly seeing the barrier break, which means rates should drop down to 5.75% very soon.  Once the barrier breaks, interest rates will move quickly, and we may see enough activity in the data to lower rates back to our 4 week low.  We will keep our fingers crossed and will continue to report the direction we are moving. 

Consumer Confidence will be reported on tomorrow which should come in similar to Consumer Sentiment.  If this happens we will see another good day for Colorado Home Mortgage Refinance Rates.  Looking at the projections I do have a little bit to be concerned about.  Consumer Confidence has been trending higher then Consumer Sentiment this year. Experts are projecting that Consumer Confidence will actually come in lower then Consumer Sentiment this month.  This raises a bit of a red flag, in the sense that expectations are set too low, leaving room for Consumer Confidence to beat current expectations.  Historically when expectations in economic reports come in higher the projected Colorado Home Mortgage Refinance rates suffer.  Though this is a concern, I would not be too worried; we are still in for some rough economic news.  We expect the data reported tomorrow to be good for Colorado Home Mortgage Refinance Rates. 

Wednesday we will have our big end of the month numbers for GDP, PMI, and Federal Open Market Committee notes.  All you need to know is that we have enough data to break through the pricing floor of 5.875% which should put us back in line for a possible lock recommendation.  I will be making this recommendation at 5.75%.  If you want to gamble gambling may pay off.  Holding out another 10 days or so may get us the 5.5% we have been so desperately trying to get.  I will report more on Colorado Home Mortgage Refinance Rates tomorrow.  Be prepared to Lock quickly in the mean time we still have a FLOAT recommendation on your Colorado Home Mortgage Refinance Rate.  I will be explaining a little bit about the reports being released in the next day or two on www.coloradohomemortgageloan.net/news Sorry about the late post today, stay tuned after 1pm tomorrow for information regarding Consumer Confidence.  In the mean time call me with any of your Colorado Home Mortgage Refinance Rates questions:-)