Colorado Home Mortgage Loan

Colorado Home Loan Rates should have seen another day of Colorado Home Loan rate improvements, but so far it appears that the market is unaffected.  NY Empire State Index surveys a group of manufacturers across New York in a variety of industries.  The participants of this survey normally involve company Presidents or CEO.  About 250 surveys are released and about 100 are returned.  The survey itself asks 10 or so questions as it relates to the Manufacturing sector.  These questions are designed to signal economic movements and inflationary pressures.  Colorado Home Loan rates are impacted by survey results, because investors use that in determining future MBS pricings.  Obviously when MBS pricing increases Colorado Home Loan rates decrease.  A negative report typically causes Colorado Home Loan rates to drop.  Today’s report came in at a -8.7 and the consensus by leading experts was that the report would come in around -2.4.  Last month the NY Empire State Index came in at a -3.2, and it was expected that some improvement would be seen over May numbers.  The fact of the matter is that the report came in considerably lower then expected and it may have been what we needed to stop the up hill climb seen with Colorado Home Loan rates over the last week or so. 

Colorado Home Loan Rates were also impacted slightly by NAHB Sentiment index.  This index rates how the National Association of Home Builders perceives the current state of the business.  Obviously depending on how they think the economy and the home sale market are going, will dictate the amount of supply they generate.  Colorado Home Loan rates are impacted by Home Sale Supplies but not directly.  This impact comes in a round about way, but Colorado Home Loan rates are impacted.  When you have an abundant supply for Home Sales the price of homes tend to go down.   Lower Home prices mixed with high Colorado Home Loan balances make it much more difficult to sell.  When home owners are unable to sell, Foreclosure rates increase, which increases the number of Mortgage Defaults.  Mortgage Defaults increases the risk associated with MBS creating a risk premium which is returned to the investors in the form of higher interest rates.  This is how Colorado Home Loan rates are impacted by high home inventories.  NAHB Sentiment index registered a reading of 18 one point lower then last month.  Anything showing a reading below 50 signals negative feelings toward the current state of business.  When the NAHB Sentiment is low, normally new home building numbers are low which is good for Colorado Home Loan rates. 

In short Economic reports released today should have been positive for Colorado Home Loan rates.  Though we saw no immediate decreases in Colorado Home Loan rates, we also did not see any increases.  Right now we continue to face real inflationary fears, luckily these fears have not be substantiated by any real economic reporting.  This does not mean I don’t believe we have inflationary pressure, it just means that the pressure may not be as great as people think.  Colorado Home Loan rates tend to react heavily on inflationary information and last week we experience some heavy movements.  I am hoping that tomorrows PPI (Producer Price Index) comes in lower then expected, if this happens we may begin to finally see Colorado Home Loan rates move down.  The only thing I have indicating that the numbers may come in lower, stems from the NY Empire State index which stated prices paid to distributors remained unchanged, according to the survey.  We will see if the survey got it right. 

The consensus on where PPI will come in at does appear to be high enough for me to believe that we are in a FLOAT situation for your Colorado Home Loan product. Colorado Home Loan rates remained unchanged today, and if PPI reports at or below expectation tomorrow we should begin to see Colorado Home Loan rates improve.  We also have our Industrial Production numbers due out and it appears at least for now that we may see this report come in reporting negative numbers.  A negative number on this report with a better then expected number for PPI will be the proof needed to decrease current inflationary fears.   Look for Colorado Home Loan rates to improve this week. I will give it a 70% favorable probability on this weeks rate sheets.  Let tomorrow be the judge on whether I get this one right or wrong.  Good Luck and let me know how I can help you with your Colorado Home Loan questions.

Daniel   

Colorado Home Loan rates hit a new summer high.  Most Colorado Home Loan providers are quoting around 6.25% or 6.5% for a conventional 30 year fixed Colorado Home Loan rate product.  We will continue to honor 6.0% and will not charge any points.  The hit for the new rate will be absorbed by us.  Colorado Home Loan rates took on some extra baggage when today’s Jobless Claims report came in better then expected.  Keep in mind that when Economic data shows signs that our economy is on a path to recovery, Colorado Home Loan rates will take a hit.  The reason for that is that investors will pull money out of the Mortgage Backed Securities market and will in return leave it in the equities market. 

Jobless Claims came in at 357K and the expectations were set at 370K.  Colorado Home Loan rates reacted negatively to the data.  Initial jobless claims measure the number of first time filings for state jobless benefits. Claims are quite volatile from week to week; therefore many analysts track a four-week moving average to get a better sense of the underlying trend. The report also contains two other statistics- the number of people receiving state benefits and the insured unemployment rate.
This report impacts Colorado Home Loan rates because if unemployment goes low enough it can put the demand for higher wages in the market.  The higher wage demand puts pressure on the economy and can cause increases in Colorado Home Loan interest rates.  The Bank of England, which has similar responsibilities to the Federal Reserve did not move interest rates up or down which was expected by the market.  The combination of the two reports normally would not have drastic impacts on the Colorado Home Loan market, but tied to comments made by the Federal Reserve yesterday, made a bigger impact on Colorado Home Loan rates then it normally would have.

Inflation continues to be the #1 influencer on where Colorado Home Loan rates are expected to go.  Higher inflation will devalue long term investments.  The lower price pressure requires a higher Colorado Home Loan rate to attract other investors.  We have implemented a FLOAT recommendation which you can read in detail at www.coloradomortgagebanking.com.  In the mean time we will need to prepare ourselves for the Nonfarm Payrolls and the unemployment rates which will create some movements in the Colorado Home Loan rate market.  Industry experts have been extremely low in their estimations as it relates to forecasting these economic data reports.  If the trend continues and the consensus on where the data will come in is still low, Colorado Home Loan rates will go up again.  6.0% is sounding more and more like the rate of choice and if it is offered to you would not be a bad Colorado Home Loan rate to lock in.  We have jumped a bit in the last 3 weeks and if you believe Colorado Home Loan rates may improve then wait until you feel like locking your Colorado Home Loan.  I only recommend the FLOAT option today, because much of the data released today have already had the impacts hit the market.  Colorado Home Loan rates started the day off worse and it appears that as the day progresses that much of the loss from today’s economic reports will be regained in the Colorado Home Loan rate market. 

As I stated before tomorrows two economic reports will create movement in the Colorado Home Loan market who much movement will be realized when the reports are released.  Nonfarm Payroll data is the top number of the Employment Report, one of the most highly anticipated pieces of economic data. The headline figure is often a major Colorado Home Loan market mover with the labor market a strong predictor of the strength of the economy. The Unemployment Rate is obtained from a different data sample, and together the two reports provide the most comprehensive picture of the labor market. The monthly reports are, however, very volatile and subject to large revisions in future releases. Long term trends in the report’s data are a better gauge for the true state of the labor market. Strength in the labor market implies a strong economy and is usually negative for Colorado Home Loan markets.  Unemployment will also be released with this report and is the second component in what investors look at in the reported employment numbers.  Colorado Home Loan rates will either jump or of go down after the release of these figures.

It is very hard to determine where we need to lock your Colorado Home Loan in the next 24 hours, but it appears that for the moment the Mortgage Backed Securities market is trying to make up for some of the ground lost earlier this morning.  I would FLOAT your Colorado Home Loan rate until late this afternoon and would lock then if you want to take the risk out of the market.  For those willing to ride it out, it appears that we have a lot of ground that we could make up that could be regained if the employment numbers come in worse then expected. 

Remember to call me with your Colorado Home Loan questions.  My Colorado Home Loan Rate Lock Recommendation remains at 6.0% we will see what Friday brings us until then.

Best of Luck

Daniel

So far the mortgage backed securities market has responded well to the Economic Reports released today.  At 1pm Eastern Time we do expect to see some volatility in the Colorado Home Equity loan market as reports come in confirming the progress of the 10 year treasury bond auction currently taking place.  Colorado Home Equity loan programs are primarily impacted by the Federal Reserve and the current Prime Rate.  What I will be referring to today will be the fixed rate programs that move in direct relation to Colorado Home Mortgage Loan rates. 

We had the release of two Economic reports today, Productivity data and Pending new home sales data.  Both reports are viewed to be low priority in the movement of Colorado Home Equity Loan rates, but both certainly have impacts.  If you are looking for a more detailed explanation of these reports look at the last post which should answer most of your questions.  Anyways Productivity did come in higher then expected, but following close behind was economic data indicated lower then expected inflationary numbers.  These numbers are significant because of the influence Oil has had in each inflationary report released so far.  Inflation has been perceived to be a lot more heated then what is actually showing up in the numbers.  This is also important because Oil is trading at extremely high prices.  The fact that inflation appears to be lower then expected, tells us that spending is down.  This may prove to be beneficial to Colorado Home Equity Loan rates in the future, but right now investors continue to be skeptical.  We also had information being reported on Pending Home sales, which reported a negative growth number.  The negative numbers did however come in line with current expectation, sending Colorado Home Equity Loan rates into another holding pattern.  The last thing today to impacting Colorado Home Equity Loan rates today will be reports showing the 10 year treasury auction activity for the day.   These numbers have not been released yet but looking at the live feed for Mortgage Backed Securities it appears that the numbers will be favorable.  This favorability will be good for Colorado Home Equity Loan rates.  Remember we are looking for a LOCK recommendation around 5.75% with no points, we hope to have that in place soon.  Stay tuned for more Colorado Home Equity Loan information as economic reports continue to be released.

Tomorrow we do have two more economic reports to talk about, and both these reports will have impacts on Colorado Home Equity Loan rates.  The Bank of England will be making its bi-quarterly announcement tomorrow on current lending rates for the European markets.  Obviously the majority of investors we have in our Mortgage Backed Securities market come from international investors.  These investors influence Colorado Home Equity Loan rates more then any other buying group currently participating in the bond market.  When The Bank of England announces increases in interest rates, their in house investments become more attractive.  The international investors will pull money out of our market and begin to dump it back into their own markets.  This said, we do not expect any surprising news from the Bank of England, but you never know.  Finally, we will have the Jobless Claims report announced around 830am eastern time.  This report is important because it signals increased demand on wages. The four-week moving average and continuing claims are watched more closely for changes. The labor market is considered to be improving when the four-week moving average goes below 400,000. If unemployment goes low enough it can put wage pressure on the economy and can cause increases in Colorado Home Equity Loan rates.  We will update you as soon as the reports are out. 

In short, we had light reporting day and Colorado Home Equity Loan rate appear to be right where we left them yesterday.  The market has shown signs of improvement all day and at last glance continues to see improvements, which is good news for Colorado Home Equity Loan rates.  Though we saw improvements, rates still appear to be at 5.875%.  We are seeing movements in the market that may have Colorado Home Equity Loan rates hit 5.75% sooner the later.  The issue we are seeing is that investors are still pricing their bonds very conservatively, but we may be able to get the 5.75% at no cost in the next day or two if the trend continues.  We are staying on top of any breaking Headline news mainly because of the impact that would have this week on the Mortgage Backed Securities market.  With economic reports at a minimum it does not take much to have Colorado Home Equity Loan rates moving in the wrong direction.  I have additional information available at www.coloradomortgagebanking.com.  Give me a call with any of your Colorado Home Equity loan questions.

Daniel

Today’s Colorado home mortgage refinance loan programs were impacted by the Consumer Confidence Data which reported that consumers were less confident to spend and more likely to save then they were last quarter.  What does this mean to Colorado home mortgage refinance loan rates well it can have a positive impact because when people save they tend to invest in risk free or low risk investments like bonds.  When you have a higher demand to buy Mortgage Back Securities the price of the bond increases and Colorado home mortgage refinance loan programs tend to see their rates decrease.  Good news yes, but it only slowed down the increased Colorado home mortgage refinance loan rates have had over the last 36 hours.   The recommendation yesterday was to lock especially if you want to minimize your risk that economic reports due out later this week will be bad for rates.  Colorado home mortgage refinance loan rates can still be had under 6%, but we are seeing rates start to near the 6% mark.  If the economic data released later this week turns out to be good economic news we will see Colorado home mortgage refinance loan programs increase rates through the beginning of next week.  So the simple question right now is Should we or Should we not lock?  Well hopefully we locked you over the last week or so, but in the short run you may have taken the gamble all the way up to this point and only if the economic data is bad Thursday and Friday will that gamble pay off.  I don’t like risk in the market and when ever Colorado home mortgage refinance loan rates are below 6%, my recommendation typically continue to be a lock Recommendation, but heck if you floated this long you might as well ride the wave out until Tuesday or Wednesday of next week to see if your gamble paid of on your Colorado home mortgage refinance loan rate or not.  Good luck and I hope rates will improve right now the trend for rates remains flat with a slight increase expected.  Will see what happens in the next day or two and report on what Colorado home mortgage refinance loan rates will truely be. Don’t forget I have two other sites get to know me at www.nostresshomeloans.com or read more into my blogs at www.coloradomortgagebanking.com

Daniel

Did you know that a simple call to your mortgage broker can get you a fee Colorado home Valuation done for you.  It is not a fully documented appraisal, but they have relationships strong enough with appraisers who will tell them what the estimated value of your Colorado Home would be.  There are other sites that you can use to get an estimated value like www.zillow.com What I like about this site is that it may be a little conservative on the Colorado Home value, but it does a great job extimated values for the area.  It can also tell you if your zip code has increased in appreciation over the last 30 days.  This site will give you just about everything you need to get a strong idea of what your Colorado Home value is.  If you want to now know how to increase the value of your home give me a call and I can give you a few pointers.  Best of luck and Happy easter, I hope your Colorado Home is valued exactly what you expect it to be. 

We are starting to see Colorado home mortgage refinance loan request come in.  Those that locked into a subprime loan 2 or 3 years ago are starting to see their Colorado home mortgage refinance loan programs increase there rates by 2% every six months.  It is scary some of the Colorado home mortgage refinance loan options given to consumers in the last 4 years, but they are out there.  We do have some relief in store and we can get you into a colorado home mortgage refinance that you can live with.  FHA recently increased their limits to allow El Paso county to lend up to 325K which is 85K higher then what was previously allowed for Colorado home mortgage refinance loan options using FHA funds.  Because we are able to lend up to 95% homes that have not increased drastically or even moderatly can still qualify for a low rate Colorado home mortgage refinance loan.  Go to www.Coloradomortgagebanking.com to see why rates have remained so low and what the forecast will be in the weeks to come.  The FHA loan limit releif is temporary and unless congress makes it permanent we may have a small window to ensure you get the Colorado home mortgage refinance loan you desirve.  Stay tuned for some economic indicator reports being released next week to see if rates will continue to stay at a respectable level.  Yes I did say respectable which means that your Colorado home mortgage refinance loan rates are already good and waiting may have a small reward, but locking will eliminate the guessing game.  Take the time to listen to your broker and interview them well if they do not understand the market you will quickly see through them.  Ask the questions you think should be answered about the market and if you get a High School response then odds are you have the wrong person working for you.  Your Colorado home mortgage refinance loan provider should know the facts and should be able to take the guessing game out of locking.  If I would have quoted today’s rates 4 weeks ago everyone would have locked immediately if this stands to be true then why wait before locking your current Colorado home mortgage refinance loan rates.  My recommendation continues to stay at a LOCK recommendation as it has all week.  We had a couple spikes but all and all Colorado home mortgage refinance loan rates have remained strong.  This easter remember our savior and the sacrafices he made for our sins, I am so blessed to have the ability to be forgiven and am thankful for our lord and Savior.  God Bless