Colorado Mortgage
Today turned out to be a very interesting day for Colorado Mortgage rates. Mortgage backed securities started the day higher then yesterday initially driving interest rates down, but as the day progressed Colorado Mortgage rates actually closed a bit higher then expected. The Durable goods report came in considerably lower then expected and sent Colorado Mortgage rates on a downward trend, but the release of a very large FHA jumbo portfolio created an abundance of bonds in the market and ultimatley took its toll on rates. I would not be concerned by the price increase late in the day I am sure that Colorado Mortgage investors were influenced by the increase in the supply of bonds and the fear that GDP will some how come in better then expected. Tomorrow we should continue to see how Colorado Mortgage investors plan to react to Friday’s GDP numbers, my guess is that Colorado Mortgage rates will see another slight increase, but not enough to impact your lock rate. At this point if you have not locked you might as well ride it out through the end of the week. By not locking early in the week you have in a sense committed yourself to the game, let it ride. Those clients that chose to gamble may find their Colorado Mortgage rates improve considerably by mid next week. Over the last 6 weeks or so we have only had one Economic report come in better then expected and I am betting that GDP will come in below expectations and Colorado Mortgage rates will drop in the near future. Be prepared to react if the news comes in better then expected, but for now my recommendation continues to be: FLOAT. Thanks for staying tuned and God bless. Remember to check out my other site: www.coloradomortgagebanking.com/news
Daniel
Tags: , Colorado Mortgage, Rates
