ADP’s Employment figures right in line with expectations: How will that impact Colorado Home Mortgage refinance loan rates
ADP’s numbers are in and so far nothing out of the ordinary. They have reported employment numbers right in line with what investors expected. Colorado Home Mortgage refinance loan rates did creep up a bit today, but this was still primarily from yesterday’s market activity. Colorado Home Mortgage refinance loan rates moved up about .125% this morning and have pretty much maintained that level throughout the day. I did however get a pricing alert from one of my investors late this morning, indicating a price improvement. I believe the dust is settling from yesterday and investors are beginning to cash in on some short term stock profits by selling. When investors sell off stock they typically move their money into safer investments like Mortgage Backed Securities. When demand for MBS increases Colorado Home Mortgage Refinance loan rates will drop. Several other reports came out today, but none of them caused any real movement in the market. What we do have to remember is that the reports currently being released have not painted any good pictures for what is to come. The news being reported still indicate that we are at some of the lowest points we have seen in some time and investors are aware of this. As soon the tolerance for risk drops for investors, the sooner the demand for Mortgage Backed Securities will increase. A couple more reports indicating bad economic data should do the trick. Look for rates to drop again by Friday, how much will depend on how bad the employment figures turn out to be. Colorado Home Mortgage refinance lock recommendation remains as a FLOAT. Be ready to LOCK quickly if the news on Friday comes out better then expected, but so far nothing has indicated that this would be the case. This was probably the reason we saw a Colorado Home Mortgage refinance loan pricing alert for the better today. Stay tuned and check out www.Coloradomortgagebanking.com/news when you get a chance.
Tags: Colorado Home Mortgage refinance loan rates, Home Mortgage, Mortgage Backed Securities, Rates
