Consumer Price Index due out tomorrow: Colorado Mortgage and Loan rates expected to go up
Today was a rough day for Mortgage Backed Securities. Colorado Mortgage and Loan rates increased about .375% when everything finally settled in today. Producer Price Index will typically preview what is to come in the Consumer Price index due out shortly. If today is any indication we may see rates top the 6.0% range sometime tomorrow. It is hard to recommend Floating at this time, but I can’t help but to think that if you lock tomorrow you will be locking at a high point in the Colorado Mortgage and Loan rate market. We also have a dark horse report being released with the Consumer Pricing index and that is industrial production numbers. Industrial Production is one of the major reports measuring economic activity. Stronger economic growth typically leads to higher inflation, so fixed income markets usual react negatively to stronger than expected economic growth. Colorado Mortgage and Loan rates are expected to increase tomorrow stay tuned to see what the inflationary numbers look like. Thanks for all your support and look for the update first thing tomorrow.
Daniel
