Colorado Home Mortgage Loan

Colorado Mortgage rates saw very little movement today, however we did have a couple of Colorado Mortgage lenders make mid-day price changes improving their rates from this morning.  We are very fortunate to have so many investors to choose from.  Depending on the program, rates differ from one Colorado Mortgage lender to the other.  Lenders have a certain portfolio that they want to attract, and like insurance companies, these Colorado Mortgage lenders tend to have better Colorado Mortgage rates for those meeting their portfolio criteria.  By having 32 different lenders, I am able to get the best Colorado Mortgage rates offered by each lender.  Today was a perfect example of that.  I had a few lenders go out and lower Colorado Mortgage rates in anticipation of what they thought the market was doing.  The market did not respond as positively as these lenders had thought and before they could take back any of the decreases set earlier in the day, I went ahead and Locked a client in at 5.5% fixed.  Even though we had little movement today with Colorado Mortgage rates, it would appear that lenders will be offering the 5.5% rate again.  This Colorado Mortgage rate may or may not stay around for long it will depend on tomorrows Economic news, my recommendation will be to LOCK.  If you can get the 5.5% fixed rate at anytime in the next few day then LOCK.  This week may prove to be an interest week for anyone who wants to gamble on the market.  Colorado Mortgage rates could break through and get as low as 5.375%.  This will only be achieved if the news being released tomorrow, on the ISM business report, turns out to be a lot more negative then anticipated.  Even though the possibility does exist, I still believe that there is no reason to let it ride.  The risk/reward spread does not make the risk worth it.  We have a bond floor to break through, which requires the 5.5% coupon bond price to increase well over the $101.5 range to penetrate that barrier.  It does not appear that the 5.5% coupon bond will do that anytime soon.  So I will keep the LOCK recommendation for 5.5% fixed should you be able to get this rate from your Colorado Mortgage provider.  I will do what ever I can to get that rate for you.  If rates increase tomorrow on good economic news I believe rates will probably continue to rise for the rest of the week.  So if you can make 5.5% work then LOCKING will give you the results you were looking.  For additional news check out www.coloradomortgagebanking.com/news good night.

Daniel

I don’t typically send out a quick Colorado Mortgage blog like this, but we have had two mid day price changes for the better.  Colorado Mortgage rates are down .25% today making up a majority of what was lost all week.  I hope the trend continues next week for your Colorado mortgage loan.  So far so good Colorado Mortgage rates are reacting just as we had planned:-)

Daniel

Today turned out to be a very interesting day for Colorado Mortgage rates.  Mortgage backed securities started the day higher then yesterday initially driving interest rates down, but as the day progressed Colorado Mortgage rates actually closed a bit higher then expected.  The Durable goods report came in considerably lower then expected and sent Colorado Mortgage rates on a downward trend, but the release of a very large FHA jumbo portfolio created an abundance of bonds in the market and ultimatley took its toll on rates.  I would not be concerned by the price increase late in the day I am sure that Colorado Mortgage investors were influenced by the increase in the supply of bonds and the fear that GDP will some how come in better then expected.   Tomorrow we should continue to see how Colorado Mortgage investors plan to react to Friday’s GDP numbers, my guess is that Colorado Mortgage rates will see another slight increase, but not enough to impact your lock rate.  At this point if you have not locked you might as well ride it out through the end of the week.  By not locking early in the week you have in a sense committed yourself to the game, let it ride.  Those clients that chose to gamble may find their Colorado Mortgage rates improve considerably by mid next week.  Over the last 6 weeks or so we have only had one Economic report come in better then expected and I am betting that GDP will come in below expectations and Colorado Mortgage rates will drop in the near future.  Be prepared to react if the news comes in better then expected, but for now my recommendation continues to be: FLOAT.  Thanks for staying tuned and God bless.  Remember to check out my other site: www.coloradomortgagebanking.com/news

Daniel 

Sorry about the late Colorado Mortgage post, but today will go down in the books as one of the biggest rate changes that I have seen for Colorado Mortgage options in awhile.  If you took the Lock recommendation late yesterday and early today then you will be happy with your Colorado Mortgage rate.  The Federal Reserves lowered short term interest rates which will have a positive impact on Colorado Home Equity Loans.  If you are looking for longer term Colorado Mortgage rates then you will be looking for awhile those rates increased today by about .5% through the day.  The Federal Reserves continues to throw the Mortgage Backed Securities market into a frenzy and a state of confusion.  Colorado Mortgage rates went up Colorado Home Equity Loans went down.  Seeing that Colorado Home Equity Loans are a thing of the past all we care about is the Colorado Mortgage loan rates.  Ok. I know it sounds repetitive but I think I can get my web master off my back and just stick to the basics now.  Inflation was a concern it should not have since we all projected a 1% decrease in the federal funds rate, but it came to the surface again and investors were reminded that inflation hurts colorado mortgage bonds and those that are holding those bonds.  It sparks a sell off and when mortgage backed securites drop in price interest rates go up.  I believe that investors were in a state of shock and over reacted.  I believe a little ground will be made up in Colorado mortgage rates tomorrow, but they will not return to what we had this morning and if you locked which most of my clients did you should be very happy that we got the rates we did.  Most of you got between .25% -.5% lower then what was quoted not a bad rate for your Colorado Mortgage.  Those who have Colorado Home Equity loans should think about calling their current lenders to lock those rates in place.  Just a thought:-)