Colorado home loan
Colorado home loan rates will get a boost driving interest rates slightly lower today. The Durabale Goods report was released and the economic data in that report came in far below what was expected. I have said this time after time that bad economic data translates to interest rate reductions for Colorado home loan products. The fact that we had any good economic news at all earlier in the week caused myself and other lenders to take a very cautious approach to what Colorado home loan rates will do. I still believe that anything below 6% is a good rate but at this time I don’t see anything today that would lead me to believe rates will go up. The much anticipated GDP report will be due out soon and if it is anything like today’s Durable goods report expect Colorado home loan rates to improve all the way into next week:-) When you get a chance today take a look at www.coloradomortgagebanking.com/news for additional mortgage information. I will go out on a limb and say that we are currently in a recession. Over the last 6 weeks or so the only encouraging economic data that came in was the new home sales report which was a fluke in my eyes. Everything else we are seeing indicates that the economy has yet to recover and until we hit rock bottom (recession) we will continue to see bad economic data. This will be good for Colorado home loan rates. Stay tuned for more details throughout the end of this week.
Tags: Colordo home loan, economic data, Rates
