The Home Loan Mortgage Blog

Weekly Update - 1/24/20

January 24th, 2020 9:31 AM by T. Fanning



Hi, I hope you have a great Friday!

It was a good week for rates - lower across the board. Next week is much busier than this week was though. It has something for us to watch every day, starting with a minor housing report Monday morning. The scheduled events range from low importance to highly important. We will get housing, manufacturing and consumer spending data along with the initial GDP reading for the 4th quarter, a couple of Treasury auctions and a 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: 1/24/20

Friday's bond market has opened in positive territory, extending the recent positive momentum. Stocks are relatively flat with the Dow down 11 points and the Nasdaq down 1 point. The bond market is currently up 10/32 (1.70%), which should improve this morning's mortgage rates by another .125 of a discount point.

Today has nothing scheduled that is relevant to mortgage rates. There is no reason to believe that we will see an intraday revision to rates unless the major stock indexes make a big move lower. In other words, don't be surprised to see a fairly quiet end of the week for bonds and mortgage pricing.

Next week is much busier than this week was though. It has something for us to watch every day, starting with a minor housing report Monday morning. The scheduled events range from low importance to highly important. We will get housing, manufacturing and consumer spending data along with the initial GDP reading for the 4th quarter, a couple of Treasury auctions and a FOMC meeting. Look for details on all of 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...
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 January 24th, 2020 9:31 AM

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