The Home Loan Mortgage Blog



Happy Friday!

Rates were mixed this week. Fixed rate Conventional, Conforming loans ended even; Government loans and fixed rate Jumbo loans saw a small decrease; ARM's saw a very small increase. Next week does not have a large number of events scheduled but most of what is on the calendar is expected to be pretty influential. Unlike most Mondays, we start the new week with an important piece of economic data when June's Retail Sales report is posted. It tracks consumer level sales that make up over two-thirds of the U.S. economy. Then mid-week we have Fed Chairman Powell's semi-annual two-day congressional testimony on the status of the economy and monetary policy plans. After those events, there is little economic data scheduled that we need to watch. However, corporate earnings season gets into full-swing, possibly driving stocks and bond trading any day.*

We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: FHA and VA 1x Close Construction-Perm; 1% Down Conventional Program; 1.50% Down FHA Advantage Program; CHFA Financing; Down Payment Protection program; HomeStyle renovation program; and a jumbo, 5% down program. We also can do hobby farms, Ag properties and Alt-A (stated income, verified assets for self-employed borrowers)! To see a detailed list of programs, visit our website:  www.hlmcolorado.com/mortgageprograms

As always, please let me know if I can help you/friends/family/potential buyers/borrowers!

Last Updated: 7/13/18

Friday's bond market has opened in positive territory due partly to favorable results from today's only economic release. The major stock indexes are showing minor gains with the Dow up 21 points and the Nasdaq up 9 points. The bond market is currently up 4/32 (2.83%), which should improve this morning's mortgage rates by approximately .125 of a discount point.

Yesterday's 30-year Treasury Bond auction was uneventful with benchmarks showing an average level of interest in the securities. The bond market had little reaction to the 1:00 PM results, meaning mortgage rates were unaffected by the sale.

Today's only relevant economic data was the University of Michigan's preliminary Index of Consumer Sentiment for July at 10:00 AM ET. It came in at 97.1, down from June's 98.2 and weaker than the 97.8 that was expected. This means that surveyed consumers did not feel as good about their own financial situations as they did last month. This is good news for bonds and mortgage rates because waning confidence usually means consumers are less likely to make a large purchase in the near future. Today's reading will be revised in two weeks, but this index is considered to only be moderately important to the financial and mortgage markets.

Next week does not have a large number of events scheduled but most of what is on the calendar is expected to be pretty influential. Unlike most Mondays, we start the new week with an important piece of economic data when June's Retail Sales report is posted. It tracks consumer level sales that make up over two-thirds of the U.S. economy. Then mid-week we have Fed Chairman Powell's semi-annual two-day congressional testimony on the status of the economy and monetary policy plans. After those events, there is little economic data scheduled that we need to watch. However, corporate earnings season gets into full-swing, possibly driving stocks and bond trading any day. Look for more specific details on next week's activities in Sunday evening's weekly preview.

If I were considering financing/refinancing a home, I would....

Lock if my closing were taking place within 7 days...
Lock if my closing were taking place between 8 and 20 days...
Lock if my closing were taking place between 21 and 60 days...
Float if my closing were taking place over 60 days from now...

This is only my opinion of what I would do if I was financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.*

*http://www.hlmcolorado.com/DailyRateAdvisory




LO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289
Regulated by the Colorado Division of Real Estate
Posted in:General
Posted by T. Fanning on July 13th, 2018 12:57 PM


Hello, I hope you're doing well.

Fixed rate loans experienced a minor decrease from last Friday's numbers; ARM's saw a minor increase. Next week has a few pieces of relevant economic data that we will be watching in addition to a couple of Treasury auctions that are known to influence mortgage rates. All of the week's events that are expected to affect mortgage rates come during the middle and latter days. Monday has nothing of importance scheduled.*

We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: FHA and VA 1x Close Construction-Perm; 1% Down Conventional Program; 1.50% Down FHA Advantage Program; CHFA Financing; Down Payment Protection program; HomeStyle renovation program; and a jumbo, 5% down program. We also can do hobby farms, Ag properties and Alt-A (stated income, verified assets for self-employed borrowers)! To see a detailed list of programs, visit our website:  www.hlmcolorado.com/mortgageprograms

As always, please let me know if I can help you/friends/family/potential buyers/borrowers!
             

Last Updated: 7/6/18

Friday's bond market has opened in positive territory following mixed results in this morning's major economic release. Stocks are having a somewhat muted and mixed reaction to the data with the Dow down 16 points and the Nasdaq up 38 points. The bond market is currently up 5/32 (2.81%), which should improve this morning's rates by approximately .125 of a discount point.

Yesterday's afternoon release of the FOMC minutes didn't reveal any major surprises but did show concerns about the impact trade tariffs may have on the economy in the future. There was not enough concern to alter their plans for raising key short-term interest rates though. The release had little impact on the bond market and yesterday afternoon's mortgage pricing. We saw no reaction in rates after the minutes were posted.

This morning's big news was June's Employment numbers at 8:30 AM ET. They showed that the unemployment rate moved up to 4.0% from May's 3.8%, that 213,000 new jobs were added to the economy and average earnings rose 0.2%. The unemployment rate was expected to remain at 3.8%, theoretically making that reading good news for mortgage rates. The average earnings came in below the 0.3% increase that was forecasted, which is also favorable for bonds and mortgage pricing.

The biggest headline number in the report is the number of jobs added or lost during the month. The 213,000 that was added last month was a bit stronger than the 192,000 that was expected. It wasn't a huge variance, but was still higher than forecasts. Also worth noting, May and April's payroll numbers were revised upward for a combined 37,000 more jobs added than previously thought. Because those numbers point towards growth in the employment sector, they are considered to be bad news for mortgage rates. Fortunately, the mixed results in the report have neutralized any significant impact on this morning's trading.

Next week has a few pieces of relevant economic data that we will be watching in addition to a couple of Treasury auctions that are known to influence mortgage rates. All of the week's events that are expected to affect mortgage rates come during the middle and latter days. Monday has nothing of importance scheduled. Look for details on next week's calendar in Sunday evening's weekly preview.

If I were considering financing/refinancing a home, I would....

Lock if my closing were taking place within 7 days...
Lock if my closing were taking place between 8 and 20 days...
Float if my closing were taking place between 21 and 60 days...
Float if my closing were taking place over 60 days from now...

This is only my opinion of what I would do if I was financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.*

*http://www.hlmcolorado.com/DailyRateAdvisory




LO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289
Regulated by the Colorado Division of Real Estate
Posted in:General
Posted by T. Fanning on July 6th, 2018 1:27 PM


Hi,

Other than the Jumbo 30-year fixed, rates saw a nice decrease from last Friday's numbers. Next week is going to be interesting. It is a holiday-shortened week due to Independence Day Wednesday and an early close Tuesday ahead of it. In addition to the holiday, we also have a decent sized batch of economic releases that includes two major reports. One of them comes Monday when June's ISM manufacturing index will be posted at 10:00 AM ET.*

We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: FHA and VA 1x Close Construction-Perm; 1% Down Conventional Program; 1.50% Down FHA Advantage Program; CHFA Financing; Down Payment Protection program; HomeStyle renovation program; and a jumbo, 5% down program. We also can do hobby farms, Ag properties and Alt-A (stated income, verified assets for self-employed borrowers)! To see a detailed list of programs, visit our website:  www.hlmcolorado.com/mortgageprograms

As always, please let me know if I can help you/friends/family/potential buyers/borrowers!
                  

Last Updated: 6/29/18

Friday's bond market has opened down slightly with stocks in rally mode to close out the week. The major stock indexes are showing sizable gains, pushing the Dow higher by 241 points and the Nasdaq up 53 points. The bond market is currently down 2/32 (2.84%), which should keep this morning's mortgage rates at Thursday's early levels.

Yesterday's 7-year Treasury Note auction ended up being a non-factor in the bond market. Demand for the securities was average at best and had no impact on trading or mortgage rates during afternoon trading.

May's Personal Income and Outlays data was today's first economic release. The Commerce Department announced a 0.4% increase in income and a 0.2% rise in spending. Analysts were expecting to see a 0.4% increase in both readings. The weaker spending reading is good news for bonds and mortgage rates because consumer spending makes up over two-thirds of the U.S. economy. Therefore, spending levels that fall short of expectations mean overall economic growth may run below forecasts. Generally speaking, what is good for the economy is good for stocks and bad for bonds and mortgage rates.

The final report of the week came from the University of Michigan at 10:00 AM ET when they revised their Index of Consumer Sentiment for June. It came in at 98.2, down from the preliminary reading of 99.3. Forecasts were calling for a reading of 99.0, indicating surveyed consumers did not feel as good about their own financial and employment situations as previously thought. Because weaker levels of sentiment usually mean consumers are less likely to make a large purchase in the immediate future, we can consider this good news for the bond and mortgage markets. However, this is only a moderately important piece of data, limiting its impact on today's mortgage pricing. What favorable impact we did get is helping to prevent more of a negative reaction to this morning's stock rally.

Next week is going to be interesting. It is a holiday-shortened week due to Independence Day Wednesday and an early close Tuesday ahead of it. In addition to the holiday, we also have a decent sized batch of economic releases that includes two major reports. One of them comes Monday when June's ISM manufacturing index will be posted at 10:00 AM ET. Look for details on all of next week's activities in Sunday evening's weekly preview.

If I were considering financing/refinancing a home, I would....

Lock if my closing were taking place within 7 days...
Lock if my closing were taking place between 8 and 20 days...
Float if my closing were taking place between 21 and 60 days...
Float if my closing were taking place over 60 days from now...

This is only my opinion of what I would do if I was financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.*

*http://www.hlmcolorado.com/DailyRateAdvisory




LO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289
Regulated by the Colorado Division of Real Estate
Posted in:General
Posted by T. Fanning on June 29th, 2018 12:39 PM


TGIF! I hope you've had a great week.

Rates were mixed this week; the changes were minimal. Next week has little scheduled that is expected to affect mortgage rates. Next week has a handful of relevant economic releases scheduled along with a couple of Treasury auctions that we will be watching. Only two of the releases carry much importance but neither are considered major or key pieces of data. Monday does bring a minor release in May's New Home Sales report. It tracks strength in the small new home portion of the housing sector. It likely will not cause much movement in mortgage rates.*

We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: FHA and VA 1x Close Construction-Perm; 1% Down Conventional Program; 1.50% Down FHA Advantage Program; CHFA Financing; Down Payment Protection program; HomeStyle renovation program; and a jumbo, 5% down program. We also can do hobby farms, Ag properties and Alt-A (stated income, verified assets for self-employed borrowers)! To see a detailed list of programs, visit our website:  www.hlmcolorado.com/mortgageprograms

As always, please let me know if I can help you/friends/family/potential buyers/borrowers!

Last Updated: 6/22/18

Friday's bond market has opened in negative territory with stocks in mixed and little else to drive trading. The Dow is currently up 181 points while the Nasdaq has lost 7 points during early trading. The bond market is currently down 4/32 (2.91%), which should keep this morning's mortgage rates close to Thursday's early pricing levels.

There is nothing scheduled for today that is expected to affect mortgage rates. If there is an intraday move in bonds and mortgage pricing, it likely will be a result of stock movement. Generally speaking, stock strength usually has a negative reaction on bonds and pushes mortgage rates upward. On the other hand, stock selling leads to funds being brought into bonds, causing mortgage rates to move lower. If the major stock indexes remain near current levels, bonds and mortgage rates should follow suit today.

Next week has a handful of relevant economic releases scheduled along with a couple of Treasury auctions that we will be watching. Only two of the releases carry much importance but neither are considered major or key pieces of data. Monday does bring a minor release in May's New Home Sales report. It tracks strength in the small new home portion of the housing sector. It likely will not cause much movement in mortgage rates. Look for details on next week's activities in Sunday evening's weekly preview.

If I were considering financing/refinancing a home, I would....

Lock if my closing were taking place within 7 days...
Lock if my closing were taking place between 8 and 20 days...
Lock if my closing were taking place between 21 and 60 days...
Float if my closing were taking place over 60 days from now...

This is only my opinion of what I would do if I was financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.*

*http://www.hlmcolorado.com/DailyRateAdvisory




LO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289
Regulated by the Colorado Division of Real Estate
Posted in:General
Posted by T. Fanning on June 22nd, 2018 1:17 PM


Hi, happy Friday!

Fixed rate loans had a nice little decrease; ARM loans had a small increase. Next week has little scheduled that is expected to affect mortgage rates. There are a couple of housing-related economic reports mid-week but not much more than that. Monday has nothing set, so we can expect weekend news or stock movement to be the biggest influence on mortgage rates as the week starts.*

We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: FHA and VA 1x Close Construction-Perm; 1% Down Conventional Program; 1.50% Down FHA Advantage Program; CHFA Financing; Down Payment Protection program; HomeStyle renovation program; and a jumbo, 5% down program. We also can do hobby farms, Ag properties and Alt-A (stated income, verified assets for self-employed borrowers)! To see a detailed list of programs, visit our website:  www.hlmcolorado.com/mortgageprograms

As always, please let me know if I can help you/friends/family/potential buyers/borrowers!
                   

Last Updated: 6/15/18

Friday's bond market has opened in positive territory with stocks showing sizable losses after new tariffs on some goods from China were announced. The Dow is currently down 167 points while the Nasdaq has lost 31 points. The bond market is currently up 9/32 2.90%), which should improve this morning's mortgage rates by .125 of a discount point is comparing to Thursday's early pricing.

May's Industrial Production data was posted at 9:15 AM ET this morning. It showed a 0.1% decline in output at U.S. factories, mines and utilities last month. This was weaker than forecasts of a 0.2% increase and hints at softer manufacturing activity. Since the report showed a weaker number than expected, we can consider the data favorable for bonds and mortgage rates.

The final release of the week was June's preliminary reading to the University of Michigan's Index of Consumer Sentiment at 10:00 AM ET. It came in at 99.3, up from May's final reading of 98.0 and higher than the predicted 98.8. The increase means more surveyed consumers felt better about their own financial and employment situations than did last month. That is bad news for bonds and mortgage rates because rising confidence usually translates into stronger levels of consumer spending that fuels economic growth.

Next week has little scheduled that is expected to affect mortgage rates. There are a couple of housing-related economic reports mid-week but not much more than that. Monday has nothing set, so we can expect weekend news or stock movement to be the biggest influence on mortgage rates as the week starts. Look for details on next week's calendar in Sunday evening's weekly preview.

If I were considering financing/refinancing a home, I would....

Lock if my closing were taking place within 7 days...
Lock if my closing were taking place between 8 and 20 days...
Lock if my closing were taking place between 21 and 60 days...
Float if my closing were taking place over 60 days from now...

This is only my opinion of what I would do if I was financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.*

*http://www.hlmcolorado.com/DailyRateAdvisory




LO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289
Regulated by the Colorado Division of Real Estate
Posted in:General
Posted by T. Fanning on June 15th, 2018 1:14 PM

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