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