Colorado Online Mortgage rates take a hit today on some unexpected news
Colorado Online Mortgage rates were impacted by a variety of reports today. Unemployment rate, Non-Farm Payroll, and Factory orders were all released earlier this morning. These reports were expected to come in low which was being projected in the market before hand. When the data finally did come in it hit the market hard. No one expected to hear the positive data released on each of these reports. Unemployment came in better then expected, but Non-Farm Payroll and Factory orders just blew away the projections and sent investors wondering if we are starting to see signs of recovery. Investors are sooooo emotional when it comes to reading between the lines. Payroll numbers came in better then expected, but expectations had job losses at 75K. So obviously a 20K jobs lost is much better then 75K jobs lost. We need to remember that we are still contracting as it relates to our Economy. Colorado Online Mortgage responded negatively to these reports, but I believe we will see Colorado Online Mortgage rates rebound by the end of the day. We still believe that there will be improvements in Colorado Online Mortgage rates in the days to come. If you have not locked in your Colorado Online Mortgage rate yet then FLOATING will be my recommendation.
We are looking to see Colorado Online Mortgage rates to improve beginning next week. Headline news will be watched closely and Mortgage Backed Securities will certainly react to any activity reported in the headlines. I have additional information on www.coloradomortgagebanking.com/news if you are interested in getting more details on today’s reports. Rates are at 5.875% if you are looking to lock your Colorado Online Mortgage. We believe that FLOATING is your best options and will implement a LOCK recommendation at 5.75%. Stay tuned and be prepared to lock quickly. Inflationary reports come out on Monday and this will definitely impact Colorado Online Mortgage rates. Have a great weekend and God BlessJ
Tags: Colorado Online Mortgage, Rates
