Colorado Home Mortgage Loan

Colorado Home Mortgage Refinance Loan rates saw very little movement today.  The only major economic report to be released today was the Consumer Confidence numbers.  It appears that Consumer Confidence is at an all time low and Colorado Home Mortgage Refinance Loan rates did see some action because of this.  Colorado Home Mortgage Refinance Loan rates dropped a bit but not enough to make any type of rate change in the lender rate sheets.  Most of what will impact the market will be released tomorrow and Colorado Home Mortgage Refinance Loan rates will certainly see some action because of this.  Listed below I have a simple break down of the reports released today and what we can expect tomorrow:

Consumer Confidence fell to a record low 50.0, which was a lot worse then the 56.0 expectation set in the market last week.  Colorado Home Mortgage Refinance Loan rates will see some improvements based on this information alone.  Consumer Confidence has a direct correlation to consumer spending, which accounts for two thirds of the economy. Consumer Confidence also has some correlation with joblessness, inflation, and real income. Typically only changes of five points or more are considered significant.  We had an 8.2 point drop from when the report was last issued and a 6 point drop from what was expected.  This should have had some strong impacts in the Colorado Home Mortgage Refinance Loan Markets, but so far it appears the FOMC is taking center stage.  There are other pressures that change consumer spending other than consumer confidence, inflation, joblessness, and regional business issues. Consumer Confidence is used to predict the direction of Consumer Spending but because of other influences, higher Confidence won’t always lead to higher Spending.  Higher Spending numbers could be in direct relation to higher inflation.  This would be bad for Colorado Home Mortgage Refinance Loan rates.  However this months report should have improved Colorado Home Mortgage Refinance Loan rates for now.

Two Other Reports released today Richmond Fed Survey and Case-Shiller Price index numbers play separate roles in the Colorado Home Mortgage Refinance Loan Markets, but not enough to be considered a mover and a shaker.  Richmond Fed Survey works similar to the Empire State report and reports on manufacturing areas.  The report indicated a reduction in manufacturing demand which is a sign that our economy appears to be retracting.  The Price Shiller Price Index which monitors price changes in 10 different cities seemed to indicate that pricing is down which should be good news for Colorado Home Mortgage Refinance Loan rates.  I only briefly talk about these because it does not impact the Colorado Home Mortgage Refinance Loan markets enough to make rates move.  However they were released today and the numbers seem to favor Colorado Home Mortgage Refinance Loan rates so I wanted to mention them.

FOMC Meeting will conclude tomorrow and reports will begin to leak in about what was discussed in the meeting.  The first thing that will be determined is the FOMC action.  Action normally relates to what the FOMC has decided to do to short term interest rates.  If no action is taken on Short-Term Interest rates, the FOMC will signal that Economic Stimulus continues to be its main course of action.  This will be good for Colorado Home Mortgage Refinance Loan rates.  If Short Term interest rates are increased then the FOMC will be combating inflation which is very negative for Colorado Home Mortgage Refinance Loan rates.  I believe that the FOMC will leave rates alone and that Colorado Home Mortgage Refinance Loan rates will react positively.  We just need to stay tuned to see if the board was split or not on this decision and we will need to watch for any major inflationary discussions.

Colorado Home Mortgage Refinance Loan rates should have dropped based on today’s economic reports.  So far it appears that the market has not reacted in a way typical for the type of data that was released.  Jobless Claims, Leading indicators, and Philadelphia Fed’s Index all came in at expectations, take a minute and review the impacts of these reports below:

Jobless Claims came in at 381K a bit higher then the 375K consensus.  It is obvious that we still have some major issues as it relates to Jobless Claims.  Colorado Home Mortgage Refinance Loan rates should have reacted positively from this report.  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. 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 Mortgage Refinance Loan rates.

The Leading Indicators report is composed of ten indicators designed to forecast the strength of the economy six to nine months into the future. The ten indicators are picked from different parts of the economy and are chosen because of their relevancy and accuracy. They are each given equal weight when applied to the composite index.  The LEI can predict peaks and troughs in the economy but because many of the indictors are released individually before the LEI composite index is released, Colorado Home Mortgage Refinance Loan markets rarely watch the report very closely.  The Consensus for LEI was 0.00 and the actual LEI came in at .1.  In short this LEI report shows that we are still in a slow moving economy and it appears that we will see this continue for at least another 9 months.  Colorado Home Mortgage Refinance Loan rates will continue to improve as long as our Economy shows signs of weakness.

The Philadelphia Fed’s index is a monthly survey of manufacturers located around the states of Pennsylvania, New Jersey and Delaware. Companies surveyed indicate the direction of change in their overall business activity and in the various measures of activity at their plants. They are asked questions regarding employment, working hours, new and unfilled orders, shipments inventories, delivery times, prices paid, and prices received. The survey has been conducted each month since May 1968. The index signals expansion when it is above zero and contraction when below. The Philadelphia Fed Index is considered to be a good indicator of changes in everything from employment, general prices, and conditions within the manufacturing industry. Manufacturing is considered to be a precursor to future economic conditions and it lays the groundwork toward economic recovery. For example, in a poor economy if manufacturing starts to pick up there is an expectation that the economy will soon follow behind.  This index isn’t a big Colorado Home Mortgage Refinance Loan Market mover, but the results found in the survey can indicate what to expect from the Purchasing Managers’ Index (which comes out a few days later and covers the entire U.S.).  The Philadelphia Fed’s index came in at -17% which was considerably lower then the consensus.  This should have improved Colorado Home Mortgage Refinance Loan rates.

In Conclusion:

You can easily see by today’s market that economic reports do not always create interest rate movements that are predictable.  Colorado Home Mortgage Refinance Loan rates should have reacted positively, but so far the market has not responded as expected.  So why are we seeing Colorado Home Mortgage Refinance Loan rates trending up today.  I believe that a majority of the interest rate increases seen today is due to profit takers.  Having MBS prices pricing out low over the last few days many investors buying early in the week are selling today for a quick return.  I don’t believe that the market will sustain the selling spree and we should see Colorado Home Mortgage Refinance Loan rates start improving again next week.  If you LOCK today you will be LOCKING in at a low point, however we should drop below today’s rate sometime next week.  This of course assumes that the Economic data continues to come in as expected.

Give me a call with your Colorado Home Mortgage Refinance Loan rate questions. I will be happy to assist you.

We saw another .25% hit on Colorado Home Mortgage Refinance Loan rates sparked by another day of inflation talk by the Federal Reserve.  Inflation seems to be a very hot topic and will create issues for Colorado Home Mortgage Refinance Loan rates until something else makes the headlines.  For two days now members of the Federal Reserve have been commenting on the state of the economy and have expressed very clearly that inflation remains their top priority.  Fisher the southern states representative on the Federal Reserve Board is known for his tough stance on inflation, but yesterday Bernanke continued the trend by reaffirming his position on inflation.  The mortgage backed securities market went on a selling spree and have not stopped in the last 48 hours.  We have seen some of the sharpest increases in Colorado Home Mortgage Refinance loan rates for the year.  Most lenders are offering Colorado Home Mortgage Refinance loan rates in the 6.5% range and if you have not locked in yet you may want to talk to your lender to see if the rates quoted 10 days ago will still be honored.  It is hard to make a FLOAT or LOCK recommendation on your Colorado Home Mortgage Refinance Loan rates today especially when the market is acting so irrational.

Global fears should be a real concern in the market today and should be monitored especially if it’s impacting your Colorado Home Mortgage Refinance Loan rates.  We should remember that much of the impacts are based on speculation about inflation not facts.  Not that I don’t think it is warranted, but none of the hard data being reported on inflation appears to be out of line.  Investors should come back to terms with their fears once we have more economic data to report on.  Colorado Home Mortgage Refinance Loan rates may improve as investors jump back in the market to buy at a bargain.  Obviously if this happens we may see some slight improvements in Colorado Home Mortgage Refinance Loan rates. 

The only Economic report coming out today was the trade balance which came in right in line with expectations.  The report had very little impact on what the market did.  Increases seen today with Colorado Home Mortgage Refinance Loan rates came from the continued upward spiral created by comments made earlier this week by the Federal Reserve.  We are probably not going to see much relief in Colorado Home Mortgage Refinance Loan rates until Friday the 13^th, which will be when or next Core inflationary report comes out.  Consumer Price index is expected to be released on that day which will give investor a much needed piece of the puzzle to determine whether Colorado Home Mortgage Refinance Loan rates will go up or start coming back down.

Right now we believe Colorado Home Mortgage Refinance Loan rates are set too high, but heck if you told me gas would be $4 a gallon 6 months ago I would have thought it to be highly unlikely as well.  Investors are driven on emotion and every investor appears to be fearful that the next person knows more then they do.  Investors being the lemmings they are will reaction to what everyone else is doing. The tendency in the market is to sell when everyone else is selling, and buy when everyone else is buying.  Colorado Home Mortgage Refinance Loan rates will react up or down Depending on what action investors are taking in the market.  Right now everyone is in a sell mode which has created an upward movement for Colorado Home Mortgage Refinance Loan rates.  How far it will go and when it will slow down is hard to say.  What can be said is that if the next couple economic reports come in as expected, then Colorado Home Mortgage Refinance Loan rates will settle down.  If the CPI report comes in like last month which was better then expected, we will see some rapid improvements in Colorado Home Mortgage Refinance Loan rates.  LOCKING now will have you locking at this year’s highest interest rate lock.  I believe that the trend will continue over the next week or so but not to the extent felt over the last two days.  We may see some of the conservative price approaches used by investors today lighten up.  This would relieve some of the upward trends being realized in the Colorado Home Mortgage Refinance Loan markets today.  Friday the 13^th can be a day of horrors or a day of reckoning.  My only fear is the superstitious tendency for that day, which is normally bad news, but everything else tells me things will improve and I will remain with my FLOAT recommendation.  If 6.0% is on the table taking it would be your best bet, but right now I don’t believe it is an option on your Colorado Home Mortgage Refinance Loan rate.  We do have other options to look at.  Does 5.375% appeal to anyone?  You should ask me about that one it may be the Colorado Home Mortgage Refinance Loan program you are looking for.

Daniel

Colorado Home Mortgage Refinance Loan rates are taking a hit first thing this morning in anticipation of the FOMC meeting minutes due to be released.  The primary reason for increased Colorado Home Mortgage Refinance Loan rates this morning stems from the lack of volume currently trade on the Mortgage Backed Securities floor.  The FOMC minutes are released at 2:00 PM EST on pre-scheduled days. Minutes are prepared to provide the necessary information to Congress and the public on policies and actions of the FOMC. The summary description of economic and financial conditions contained in these minutes is based solely on the information that was available to the Committee at the time of the meeting. The minutes of each meeting of the Federal Open Market Committee are made available a few days after the next regularly scheduled meeting. For example, the minutes of the first meeting of the year are released a few days after the second meeting of the year.  It is what the FOMC says in these minutes that will impact the direction Colorado Home Mortgage Refinance Loan rates will go.

We have implemented a LOCKING strategy over the last couple of days, and we are still advocating clients to LOCK.  5.75% is the right pricing point to lock at the moment as it appears rates may climb a bit today and tomorrow.  We may even see rates change a bit over the next couple of hours if the Mortgage Backed Securities Market continues its downward pricing trend.  Remember that we have an inverse relationship with the price of bonds and Colorado Home Mortgage Refinance Loan rates.  When Bond prices drop Colorado Home Mortgage Refinance Loan rates increase.  The opposite is said when bond price go up.

Here is a look at the Mortgage Backed Securities market so far.

This is a graph I monitor everyday and it is simple to see when the trend is below 0.00 Colorado Home Mortgage Refinance Loan rates are expected to go up.  If  the trend is above 0.00 it is safe to assume that Colorado Home Mortgage Refinance Loan rates will do down.  The trick here is to determine how the outside influences will move this graph.  If we have poor economic data coming in the graph will trend up if the economic data being released comes in better the expected the graph will drop.  This in a nutshell is how Colorado Home Mortgage Refinance Loan rates are expected to go up and down over time.  Our job is to get in about 12 hours before that happens and predict the direction.  More importantly we take the overall trend and focus on where it may go in the long run.  Its tough to determine where Colorado Home Mortgage Refinance Loan rates will go, but not impossibleJ

We have Jobless claims being released tomorrow and New home sales on Thrusday.  Both these reports will impact the market and at the momement I believe both reports will show negative economic data.  This should mean that Colorado Home Mortgage Refinance Loan rates should not spike too much this week, but the will not improve to a point where FLOATING makes sense.  If you have not LOCKED in your Colorado Home Mortgage Refinance Loan rate yet then LOCK.  The Risk/Reward will not pay off in the long run.  Please call me with any of your Colorado Home Mortgage Refinance Loan rate questions.  Also check out my other site www.coloradomortgagebanking.com/news when you have time.

Daniel

Colorado Home Mortgage Refinance Loan rates appear to be holding steady today as economic news appears to be light.  We had only one Economic Report to speak of, and though it came in high, it did not impact the market much.  ISM Service index reported higher today then expected, which typically moves Colorado Home Mortgage Refinance Loan rates in the wrong direction.  This report is monitored by the Federal Reserve and does have inflationary implications.  You can read more on that at www.coloradomortgagebanking.com/news

Here are a few smaller economic reports due out this week; Productivity, Pending Home Sales Index; Jobless Claims; and Trade Balance.  All of these reports will have some impacts on mortgage rates, but the biggest mover this week will be the stock market.  Colorado Home Mortgage Refinance Loan rates move in direct correlation with stock market gains or Losses. 

High Productivity allows firms to produce more with an equal amount of labor. If fewer workers are needed, the inflation pressure on wages will be lower. The Productivity report is not a timely report as it is only released quarterly and most of the information in the report has already been released in other reports. The report does provide the best overall picture of the economy’s efficiency.  This report is projected to come in low around 1.2%, anything higher can cause Colorado Home Mortgage Refinance Loan rates to rise.

Pending Home Sales are important but the name pretty much sums up what the report will say.  Right now we are projected to have a negative growth in this area, but that is not new news and as a result Colorado Home Mortgage Refinance Loan rates will not be impacted by this report.   Jobless Claims, which is actually due out on Thursday not Friday like I reported yesterday, will have this week’s greatest influence on Colorado Home Mortgage Refinance Loan rates.  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.  High Jobless Claims signals poor economic conditions.  Poor economic conditions cause investors to invest more in securities and in return will cause Colorado Mortgage Refinance Loan rates to drop. 

I know it is a lot to digest so I will summarize all my blogs within the last paragraph.  Reporting this week will be low as it relates to economic reports.  However the news being report will have some impact, but not as much impact as the stock market itself.  Colorado Home Mortgage Refinance Loan rates will move with the stock market this week.  Since most of the 1Q reports have already been released it appears that this week should go slow.  Current Colorado Home Mortgage Refinance Loan rates are trending right around the 5.875% range with no points.  We are keeping our Lock recommendations at 5.75%.  Please call with any questions you might have on your Colorado Home Mortgage Refinance Loan programs.

. We had another up and down day today as it relates to Colorado home mortgage refinance loan rates.  The Mortgage Backed Securities market started the day up and is now showing only moderate gains.  This should have a small positive impact on Colorado home mortgage refinance loan options.  We are seeing a lot of investors that are buying Mortgage Backed Securities and immediately selling them off at a small gain.  These Profit seekers normally do not make a big impact in the market but volume continues to be low.  Colorado home mortgage refinance loan rates continue to see improvements day after day.  We will Keep our FLOAT recommendation in place.  We are hoping that the news on Thursday pays off.  Durable goods report is expected to come in low, but if it is anything like last months report we will see Colorado home mortgage refinance loan rates drop even further.  We are already seeing much of the increases experienced in the last two and half weeks disappear.  Stay tuned and be ready to lock your Colorado home mortgage refinance loan rate when the recommendation comes into play.  In the mean time we will ride the wave and report on any big movements in the market as they happen.  Best of Luck and keep in touch.

Daniel

Colorado Home Mortgage Refinance loan rates will certainly have some improvement today on news that Consumer Sentiment has hit a new 20 year low.  In 1982 the U.S. found itself recovering from the worst Colorado Home Mortgage Refinance loan rates of all time.  It was obvious at the time that because jobless claims were high, interest rates were unbearable, and inflation was in double digits, that people were feeling beat and uneasy with the direction the economy was going.  Well at the time Consumer Sentiment was at 62.2.  Consumer Sentiment rating shows that Americans today feel about the same as Americans in the early 1980’s.  So do we now have clear and desisive proof indicating that we are in a tough economic situation?  Consumers certainly believe that.  When Consumer Sentiment is low consumers choose to save and invest in low risk investments.  These investments include, but are not limited to, Mortgage Backed Securities.  So for the short term, at least for today, Colorado Home Mortgage Refinance Loan rates are better.  I have yet to see any major shifts in pricing, but we will continue to monitor that as the day progresses.  Regardless, Colorado Home Mortgage Loan lenders released rates lower today, stopping the daily rate increases shown in the market over the last 96 hours.  LOCKING today and capturing some of the losses from yesterday will be a good choice if you are closing soon.  If not we have more economic news in store early next week.  Next week will be an interesting week for Colorado Home Mortgage Refinance loan rates.  Inflationary reports will be released and investors will certainly respond to what they hear.  Colorado Home Mortgage Refinance Loan rates will probably start off a little higher on Monday in anticipation to what Tuesday’s and Wednesday’s reports will say.  Once the information is released rates will respond quickly.  Colorado Home Mortgage Refinance Loan rates will certainly increase if inflation reports higher then expected, likewise they will drop if the reports come in as expected.   One nagging issues for inflation’s next week, will be the cost of energy factored into the inflationary data.  This is expected to have negative results on the data.   However, Given the state of the economy excluding energy, inflationary pressures should come in at or below expectation.  The make or break figure will be how much energy contributes to the overall inflation calculation.   Those looking to FLOAT may see the gamble pay off.  Tuesday and Wednesday will tell us where we stand.   The last two Inflationary reports came in as expected just an FYI. . .

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

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