August 13th, 2021 5:02 PM by T. Fanning
Hi, I hope you've had a good week!
We now serve the state of Florida! Let me know if I can be of any help with any buyers/borrowers in either Colorado or Florida!
Rates were mixed this week, but the changes were fairly small. Next week starts off light with nothing of importance set for Monday. However, we do have a couple of very important events taking place during the week, including July's Retail Sales figures and the minutes from last month's FOMC meeting.*
We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: Chenoa Fund loans; FHA and VA 1x Close Construction-Perm; 1.50% Down FHA Advantage Program; CHFA Financing; 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, your friends/family/potential buyers/borrowers!
Last Updated: 8/13/21
Friday's bond market has opened in positive territory following weaker than expected economic data. Stocks are flat with the Dow up 7 points and the Nasdaq up 4 points. The bond market is currently up 12/32 (1.32%), which should improve this morning's mortgage rates by approximately .125 of a discount point.
Yesterday's 30-year Treasury Bond auction was not as strong as Wednesday's 10-year Note sale. The benchmarks we use to gauge investor demand showed an average level of interest compared to previous recent sales. We saw a slight negative reaction to the 1:00 PM ET results announcement, but not enough to affect mortgage rates.
The University of Michigan closed out this week's calendar with the release of their Index of Consumer Sentiment for August at 10:00 AM ET. It came in at 70.2, falling well short of forecasts and down from July's 81.2. The large decline indicates surveyed consumers were not nearly as confident about their own financial situations as they were last month. Since declining confidence usually translates into softer levels of consumer spending that fuels economic growth, we can consider this report as favorable for bonds and mortgage rates.
Next week starts off light with nothing of importance set for Monday. However, we do have a couple of very important events taking place during the week, including July's Retail Sales figures and the minutes from last month's FOMC meeting. 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...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
Company NMLS ID: 479289 | LO NMLS: 208694
CO License: 100008854
FL Company License: MBR4416 | FL License: LO89221
Regulated by the Colorado Division of Real Estate
www.nmlsconsumeraccess.org
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