The Home Loan Mortgage Blog



Hey, happy official Fall!

Rates were mixed this week, with minor changes.  Conventional loan rates had a small increase; government loan rates (FHA, VA and USDA) fell. 
Next week has plenty scheduled that is expected to influence mortgage rates, some of it more than others. The week starts off light and gets more active as it progresses. Monday has nothing of importance scheduled while Tuesday has a moderately important release. Wednesday, Thursday and Friday are extremely busy, including the release of two highly important economic reports. We also have several Fed speaking engagements to watch that may come into play. Throw in the first Presidential debate of the election and we have the makings for a very interesting week.*

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: 9/25/20

Friday's bond market has opened in positive territory following favorable economic news. Stocks are mixed with the Dow down 75 points and the Nasdaq up 12 points. The bond market is currently up 4/32 (0.65%), which should improve this morning's mortgage rates approximately .125 - .250 of a discount point if comparing to Thursday's morning pricing.

August's Durable Goods Orders report was posted at 8:30 AM ET this morning, revealing a 0.4% rise in new orders at U.S. factories for big-ticket products such airplanes, appliances and electronics. This was well below expectations of a 1.2% increase, indicating the manufacturing sector was not as strong as thought last month. Even a secondary reading that excludes orders for more costly and volatile airplanes and related items fell short of forecasts. This data is known to have large swings, so the size of the variance isn't as much of an issue as it would be in other reports. Still, we can consider the report good news for bonds and mortgage rates.

Next week has plenty scheduled that is expected to influence mortgage rates, some of it more than others. The week starts off light and gets more active as it progresses. Monday has nothing of importance scheduled while Tuesday has a moderately important release. Wednesday, Thursday and Friday are extremely busy, including the release of two highly important economic reports. We also have several Fed speaking engagements to watch that may come into play. Throw in the first Presidential debate of the election and we have the makings for a very interesting week. 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 September 25th, 2020 2:42 PM


Hi, I hope you had a great week!

Rates rose this week from last Friday's numbers. 
Next week has only a couple of relevant economic reports set for release but also has two days of congressional testimony from Fed Chairman Powell midweek. There is nothing in terms of economic data scheduled for Monday that we need to watch, however, there are a couple of Fed member speaking engagements.*

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: 9/18/20

Friday's bond market opened in positive ground despite unfavorable economic data. Stocks are mixed but calm during early trading with the Dow down 11 points and the Nasdaq up 34 points. The bond market is currently up 2/32 (0.68%), but afternoon weakness yesterday is likely to cause this morning's mortgage rates to be slightly higher than Thursday's morning rates.

The first of this morning's two 10:00 AM ET economic reports was the University of Michigan's Index of Consumer Sentiment for September. It came in at 78.9, up from last month's 74.1 and higher than forecasted. Since this index gives us an indication of consumer willingness to spend and consumer spending makes up over two-thirds of the U.S. economy, the higher reading is bad news for bonds and mortgage rates. Fortunately, the data is not looked at as a major release. Accordingly, it has had a minimal impact on today's early trading and mortgage pricing.

Closing out this week's calendar was August's Leading Economic Indicators (LEI) from the Conference Board. They announced a 1.2% increase compared to the 1.3% that was expected. These indicators attempt to predict economic activity over the next several months, meaning they are showing an increase in activity this fall and winter. However, because this is considered to be only a moderately important report for the markets and the variance was minor, we can label this report as neutral for rates.

Next week has only a couple of relevant economic reports set for release but also has two days of congressional testimony from Fed Chairman Powell midweek. There is nothing in terms of economic data scheduled for Monday that we need to watch, however, there are a couple of Fed member speaking engagements. 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 September 18th, 2020 12:22 PM


Hello,

Rates were mixed this week, while staying relatively flat. 
Next week has only a couple of economic reports scheduled, but one of them is considered to be highly important to the financial and mortgage markets. We also will have another FOMC meeting for the markets to digest. There is nothing of importance set for Monday, so expect weekend news 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: 9/11/20

Friday's bond market has opened in positive territory despite another stronger than expected inflation reading and early stock gains. The Dow is currently up 113 points while the Nasdaq is up 25 points. The bond market is up 3/32 (0.67%), but strength late yesterday should allow this morning's mortgage rates to be slightly lower than Thursday's early pricing.

August's Consumer Price Index (CPI) was posted at 8:30 AM ET this morning, revealing a 0.4% increase in both the overall and core readings. Both readings exceeded expectations, indicating inflationary pressures at the consumer level of the economy was stronger than thought. Because inflation makes long-term securities such as mortgage bonds less attractive to investors, this was unfavorable news for mortgage rates.

Next week has only a couple of economic reports scheduled, but one of them is considered to be highly important to the financial and mortgage markets. We also will have another FOMC meeting for the markets to digest. There is nothing of importance set for Monday, so expect weekend news 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 September 11th, 2020 1:03 PM


Happy Friday, I hope you have a great, long Labor Day weekend!

Rates had a small improvement over last Friday's numbers. 
Next week is shortened due to Monday's Labor Day holiday when the financial and mortgage markets will be closed. The rest of the week brings us few economic reports for the markets to digest, but most of what is scheduled is considered to be highly relevant to bonds and mortgage pricing. In addition to the data, there will also be two Treasury auctions scheduled that are known to affect rates.*

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: 9/4/20

Friday's bond market has opened in negative territory following the release of this morning's major economic report. Stocks are mixed with the Dow up 91 points and the Nasdaq down 203 points. The bond market is currently down 14/32 (0.68%). That should lead to an increase in this morning's mortgage rates of approximately .125 of a discount point.

Today's big economic release was August's Employment report at 8:30 AM ET that showed the U.S. unemployment rate stood at 8.4% last month while 1.371 million new jobs were added to the economy. The unemployment rate was well below forecasts of 9.8%, making that headline number bad news for bonds and mortgage rates. The payroll number was close to expectations of 1.4 million, so we can consider that number neutral for rates. Average earnings came in well above expectations (up 0.4% vs 0.0%). With the unemployment rate and earnings showing stronger than predicted employment conditions and the payroll number neutral, we can consider the report negative for mortgage rates.

Next week is shortened due to Monday's Labor Day holiday when the financial and mortgage markets will be closed. The rest of the week brings us few economic reports for the markets to digest, but most of what is scheduled is considered to be highly relevant to bonds and mortgage pricing. In addition to the data, there will also be two Treasury auctions scheduled that are known to affect rates. 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 September 4th, 2020 9:44 AM


Hello,

Rates were up a bit this week from last Friday's numbers. 
Next week has fewer reports scheduled than this week but includes a couple of highly important releases such as the monthly Employment report. There are also a good number of public speaking engagements by current Fed members that will draw plenty of attention. Monday has nothing scheduled except for one of those Fed speeches.*

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: 8/28/20

Friday's bond market has opened in positive territory despite early stock gains and no major surprises in this morning's economic data, The Dow is currently up 42 points while the Nasdaq has gained 56 points. The bond market is currently up 12/32 (0.71%), but weakness late yesterday is going to keep this morning's mortgage rates close to Thursday's early pricing. Many lenders revised rates higher before the end of the day yesterday. If you saw an intraday increase, then you should see that move reversed in this morning's pricing.

July's Personal Income and Outlays report was posted at 8:30 AM ET, revealing a 0.4% increase in income and 1.9% rise in spending. Both readings were stronger than expected, making them bad news for bonds and mortgage rates. However, the inflation index within the data that the Fed relies on as their primary gauge (PCE) came in weaker than expected. Softer inflation readings are good news for long-term securities such as mortgage bonds. That allows us to consider the data neutral for mortgage rates.

The University of Michigan's revised Index of Consumer Sentiment for August was released at 10:00 AM ET this morning. It showed a reading of 74.1, up from the preliminary reading of 72.8. The increase means surveyed consumers felt a little better about their own finances than they did two weeks prior. Since rising sentiment usually means consumers are more likely to spend, fueling economic growth, the increase is slightly bad news for mortgage rates.

Next week has fewer reports scheduled than this week but includes a couple of highly important releases such as the monthly Employment report. There are also a good number of public speaking engagements by current Fed members that will draw plenty of attention. Monday has nothing scheduled except for one of those Fed speeches. 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 August 28th, 2020 10:46 AM

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