Colorado Mortgage rates appear to be back
Colorado Mortgage rates have improved for the 2nd straight day, giving us hope that Colorado Mortgage rates may start looking competitive sooner then later. Most of the Colorado Mortgage rate improvements can be contributed to growing concern for the economy and a decreased emphasis in inflation. It only took two days and 4 separate speeches by the Federal Reserve to increase Colorado Mortgage rates by almost 1%, it may take weeks to recover from the increases. So far most of the data being released seems to favor Colorado Mortgage rate improvement. We saw this happen yesterday with the release of the Producer Price Index. Producer Price Index came in as expected and all the hype related to inflation concerns seem to dissipate with the report.
Today we have no scheduled Economic Reports to help the Market. Investors will be looking at Headlines to determine their buying motivation in the Colorado Mortgage Securities market. We has some very unexpected news hit the securities (stock) market today as Fed Ex reported earnings far worse then expected. The stock market appears to be down over 100 points and may hit the 11K mark by the end of this week. Colorado Mortgage Rates always do well when news in the security markets appears to be bad. Morgan Stanly also reported very negative profit news and their stock is currently trading about 10% lower then yesterday. So in a day of very little economic data it appears that the headlines have increased to momentum to buy bonds. This new demand will increase the price of bonds and lower Colorado Mortgage Rates. Take a look at www.coloradomortgagebanking.com/news if you get some time to compare other market moving indicators, but regardless of which site you tune into it is clear that you will not lose by FLOATING until tomorrow.
Stay tuned for tomorrows leading indicator report, Jobless Claims, and Philadelphia Fed Index to get a step up on whether locking will be necessary. Everything I am seeing in the market seems to indicate that the economic data due to be released should come in as expected and no real surprises are in store. If that is true then Colorado Mortgage Rates will continue its downward trend. We learned something over the last week or so and that is the Federal Reserve is not as predictable as they have been in the past. I still have a lot of faith in Mr. Bernanke but he still has a lot of critics out there thinking that he may be in over his head. Colorado Mortgage Rates appear to be impacting new loan applications which have hit its lowest mark since 2006. When you are shopping for a Colorado Mortgage it is critical that you work with someone who understands the market. We will give you the Colorado Mortgage that makes sense for you. Call me with your Colorado Mortgage questions and have a great day.
Daniel
Tags: Colorado Mortgage, Colorado Mortgage Rate, Mortgage Rate
