Colorado Home Loan Rate 5.875% - 6.0%
Colorado Home Loan Rates hit 6.0% today for the first time in 6 months. Though the rate appears to be disappointing we have yet to hit our 12 month high. Colorado Home Loan Rates spiked as high as 6.25% back in November and it appears that rates today will be hitting its ceiling of residence at least for the moment. Given the current market condition it appears that we may be seeing some relief in the weeks to come. Over the last couple of days I have been writing about Colorado Home Loan rates and how Corporate profits have dominated investor behavior, while Economic reports have been ignored. Well we finally had a report come in so poorly today that it could not be ignored any further. Colorado Home Loan rates rebounded a bit, but not enough to change current Colorado Home Loan interest rates. What did happen is that the upward climb we have been facing with Colorado Home Loan rates have finally stopped, at least for the time being. Colorado Home Loan rates started the morning in negative territory due to overnight selling of Mortgage Backed Securities. It appeared that we were going to have another terrible day, but finally we had an economic report come in so low investors could no longer ignore it. As a result we have seen Colorado Home Loan rates make up for a majority of the losses experienced in overnight trading. Consumer Sentiment numbers were expected to come in low, so we were not surprised by preliminary reports indicating low expectations in this category. What was surprising to investors was how low Consumer Sentiment actually came in at. We now have people believing that we are in the toughest economic cycle since 1982. This negativity for the economy will translate into better Colorado Home Loan rates over the next few days. We should keep a close eye on our next report which will be The Consumer Confidence Report due out on the 29th. This report mirrors Consumer Sentiment and given the preview we got today investors may be more likely to buy Mortgage Backed Securities sooner then later. This sudden increase in demand will translate into a momentum shift which should push Colorado Home Loan rates back down a bit. Let’s not forget about our big reporting day, April 30th. No matter how you look at it we have some market moving activities in store, the question is how will it impact your Colorado Home Loan rate? We believe that better rates are on the horizon and because we feel rates will come down will maintain our FLOAT recommendation. We are moving up our Lock rate recommendation from 5.5% to 5.75%. We expect Colorado Home Loan rate reductions over the next week or so, but we do not believe that we will hit the 5.5% for at least 60 days. This means that if you are closing in the next 60 days and we can lock you in at 5.75% we should probably go ahead and lock it in. We will make the Colorado Home Loan rate lock recommendations directly to you when rates hit the 5.75%. For a faster response stay tuned to my blog at both sites and I will update you immediately when we have a Colorado Home Loan LOCK recommendation in force. In the mean time God Bless and have a safe weekend:-)
Tags: Colorado home loan, economic data, Home Loan, Rates
