TPG bails out WAMU from JP Morgan buy out: Will Colorado home mortgage loan rates move on the news?
Check out www.coloradomortgagebanking.com/news for some additional news on Colorado home mortgage loan information. Early this morning TPG a Texas investment company offered WAMU $5 billion dollars in an effort to block JP Morgan from buying WAMU. WAMU has hit some difficult times with some of their Mortgage Portfolio’s and has recently become an easy target for take over. As their stock decreases in value other institutions become very interested in purchasing a first rate bank at a discount. This is what we saw in the last week or so, and just before JP Morgan could build enough momentum to purchase the stock out right, TPG infused WAMU with $5 Billion dollars under terms yet to be disclosed. This sent the stock sailing and pushed investors out of Mortgage Backed Securities and back into the stock market. The recent activity in the stock market has caused Colorado home mortgage loan rates to start out a little higher this morning. These rates have pretty much stayed unchanged throughout the day. Other Reports began to trickle in late this morning indicating a down grade in profit expectation for a couple of industry leading companies. These reports caused several investors to bail out of stocks late in the morning defusing any of the stock markets gains from earlier in the day. Overall Colorado home mortgage loan rates would have seen greater increases in their rates had the market not reported any derogatory news, but as it stands it was a day of ups and downs, bringing us right back to where we started. Colorado home mortgage loan rates also suffered a bit due to the lack of activity in volume. We expect to see more activity as the week progresses and should see rates impacted by the economic reports due out throughout the week. If the trend continues as anticipated we should see rates fall back into Fridays lows. FLOATING will not be a high risk, but please remember that if we can lock you in around the 5.5% range then LOCK. Over the last year 5.5% seems to be that low point and even if rates go a little lower you will still be locked into a Colorado home mortgage loan you can live with. Good luck and God Bless
