The Home Loan Mortgage Blog



Hey, I hope you had a great week!

Numbers were mixed, with conventional loan rates ending the week lower; government loan rates ending the week a tad higher. 
Next week brings us the release of a handful of relevant economic releases in addition to a couple of Treasury auctions. Some of the data is considered to be highly important, including a consumer spending report at the end of the week. There is something scheduled each day that may move mortgage rates except for Monday.*

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% 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: 8/7/20

Friday's bond market has opened in positive territory following mixed results in this morning's big economic report. Stocks are showing early losses with the Dow down 110 points and the Nasdaq down 28 points. The bond market is currently up 2/32 (0.53%), which with a little strength late yesterday should improve this morning's mortgage rates by approximately .125 of a discount point.

Today's major economic release was July's Employment report at 8:30 AM ET that showed 1.763 million new jobs were added back to the economy. It also showed that the unemployment rate fell from 11.1% in June to 10.2% last month. The payroll number was well within the range of forecasts while the unemployment rate came in a bit lower than the 10.5% that was expected. Because the payroll number was still high and the unemployment rate fell below expectations, we can consider the data neutral for mortgage rates.

Next week brings us the release of a handful of relevant economic releases in addition to a couple of Treasury auctions. Some of the data is considered to be highly important, including a consumer spending report at the end of the week. There is something scheduled each day that may move mortgage rates except for Monday. 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...
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
www.nmlsconsumeraccess.org
Posted in:General
Posted by T. Fanning on August 7th, 2020 11:23 AM


TGIF,

Rates had a nice week, ending the week lower. 
Next week has several very important economic releases scheduled, including the ISM manufacturing index Monday and the almighty monthly Employment report Friday morning. In between there a couple of moderately important reports.*

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% 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: 7/31/20

Friday's bond market has opened down slightly despite weaker than expected economic news. Stocks are mixed with the Dow down 117 points and the Nasdaq up 14 points. The bond market is currently down 3/32 (0.55%), which should keep this morning's mortgage pricing close to Thursday's early rates.

June's Personal Income and Outlays data kicked off this morning's batch of economic news. It showed that income fell 1.1% last month while spending rose 5.6%. The decline in income was larger than expected while spending fell a little short of forecasts. That makes both readings good news for bonds and mortgage rates. The PCE inflation index that the Fed uses as their preferred gauge of inflation within the economy matched expectations, showing it remains subdued.

Also at 8:30 AM ET was the 2nd Quarter Employment Cost Index (ECI) that tracks employer costs for wages and benefits. It revealed a 0.5% rise compared to forecasts of a 0.6%. The slightly softer than expected reading indicates employer costs for wages and benefits rose during the April through June months but not as much as thought. That allows us to also consider this data slightly favorable for the bond and mortgage markets.

Finally, the University of Michigan posted their revised Index of Consumer Sentiment for July at 10:00 AM ET. It came in at 72.5, down from the preliminary reading of 73.2, indicating consumer confidence in their own financial situations was a bit weaker than earlier this month. Since waning confidence usually translates into softer levels of consumer spending, we should consider this data favorable for mortgage rates.

Next week has several very important economic releases scheduled, including the ISM manufacturing index Monday and the almighty monthly Employment report Friday morning. In between there a couple of moderately important reports. 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
www.nmlsconsumeraccess.org
Posted in:General
Posted by T. Fanning on July 31st, 2020 11:04 AM


Happy Friday,

Other than VA, interest rates were up a bit this week. 
Next week is much busier than this week was in terms of economic releases and other scheduled events that may affect mortgage rates. There is something set for every day that we need to watch, including Monday when June's Durable Goods Orders report will be released. The calendar also includes another 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% 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: 7/24/20

Friday's bond market has opened in negative territory despite early stock selling. The major stock indexes are showing noticeable losses with the Dow down 84 points and the Nasdaq down 136 points. The bond market is currently down 5/32 (0.59%), which should push this morning's mortgage rates higher by approximately .125 of a discount point.

This morning's only relevant economic data was June's New Home Sales report at 10:00 AM ET. The Commerce Department announced a 13.7% increase in sales of newly constructed homes, exceeding forecasts. The stronger than expected data indicates the new home portion of the housing sector continued to rebound from the shutdown, but since these sales make up such a small portion of all home transactions, we have not seen much of a reaction to the data. Bonds were in negative ground before this report was released.

Next week is much busier than this week was in terms of economic releases and other scheduled events that may affect mortgage rates. There is something set for every day that we need to watch, including Monday when June's Durable Goods Orders report will be released. The calendar also includes another FOMC meeting. Look for details on all 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
www.nmlsconsumeraccess.org
Posted in:General
Posted by T. Fanning on July 24th, 2020 9:32 AM


Hey,

Rates were mixed this week; conventional rates (conforming and jumbo) were up slightly; government loan rates were down. 
Next week has little scheduled that is expected to affect mortgage rates. There are a couple of monthly economic reports set for release, but none of them are considered to be important. The week starts with nothing set for Monday that we need to be concerned with.*

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% 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: 7/17/20

Friday's bond market has opened down slightly despite some favorable economic news. Stocks are showing minor losses at the moment, pushing the Dow lower by 37 points and the Nasdaq down 3 points. The bond market is currently down 1/32 (0.62%), but weakness late yesterday is going to cause this morning's mortgage rates to be higher than Thursday's early pricing by approximately .125 of a discount point.

June's Housing Starts was posted at 8:30 AM ET with the Commerce Department announcing a 17.3% jump in new home groundbreakings. The increase shows strength in the new home portion of the housing sector, but the number of new home starts was close to forecasts. Because this is a moderately important release that failed to bring a major surprise, we can consider the data neutral for mortgage rates.

The preliminary July reading of the University of Michigan's Index of Consumer Sentiment was posted at 10:00 AM ET. It came in well below expectations at 73.2. Analysts were expecting to see an increase from June's 78.1, indicating that surveyed consumers were not as optimistic about their own financial situations than many they were last month. Because waning confidence usually translates into weaker levels of consumer spending, this was good news for bonds and mortgage rates.

Next week has little scheduled that is expected to affect mortgage rates. There are a couple of monthly economic reports set for release, but none of them are considered to be important. The week starts with nothing set for Monday that we need to be concerned with. 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...
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
www.nmlsconsumeraccess.org
Posted in:General
Posted by T. Fanning on July 17th, 2020 10:35 AM


Hey,

Rates had a good week, ending down across the board. 
Next week brings us many more economic releases than we got this week, including one that is considered highly relevant and another that is extremely important. The events that will be most watched come during the middle days of the week. Monday has nothing scheduled that we need to be concerned with, leaving weekend news and stocks to drive trading as the new week begins.*

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% 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: 7/10/20

Friday's bond market has opened in positive territory, extending yesterday's rally. Stocks are showing early losses of 29 points in the Dow and 86 points in the Nasdaq. The bond market is currently up 6/32 (0.59%), which should improve this morning's mortgage rates by another .250 - .375 of a discount point if comparing to Thursday's early pricing. If you saw an afternoon improvement in rates late yesterday, you should see less of a gain this morning.

Yesterday's 30-year Treasury Bond auction followed suit of Wednesday's sale with a strong demand from investors. Mortgage and Treasury bond prices had already improved from early morning levels by the time results were posted at 1:00 PM ET. But once they were released, we saw another move higher. That eventually led to many lenders revising rates lower before the end of the day.

Today's sole relevant economic report was May's Producer Price Index (PPI) at 8:30 AM ET that revealed a 0.2% decline in the overall reading and a 0.3% decline in the core data. Both readings were well below expectations, indicating inflationary pressures at the producer level of the economy (manufacturing) were much softer than expected. Since bonds tend to thrive when inflation is weak, we can consider this data good news for mortgage rates.

Next week brings us many more economic releases than we got this week, including one that is considered highly relevant and another that is extremely important. The events that will be most watched come during the middle days of the week. Monday has nothing scheduled that we need to be concerned with, leaving weekend news and stocks to drive trading as the new week begins. 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...
Float 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
www.nmlsconsumeraccess.org
Posted in:General
Posted by T. Fanning on July 10th, 2020 12:02 PM

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