The Home Loan Mortgage Blog

Weekly Update - 6/19/20

June 19th, 2020 11:12 AM by T. Fanning



Hi, I hope you had a good week and have a good weekend.

Rates were up this week. 
Next week brings us the release of a good number of relevant economic reports in addition to a couple of moderately relevant Treasury auctions. The week starts with Existing Home Sales data late Monday morning that will give us some insight into the housing market, but the more important releases are set for the latter days.*

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: 6/19/20

Friday's bond market has opened in negative territory with stocks showing strong gains and little else to drive trading this morning. The Dow is currently up 253 points while the Nasdaq is up 106 points. The bond market is currently down 5/32 (0.72%), which should push this morning's mortgage rates slightly higher.

There is nothing scheduled for release today that we need to be concerned with. There are several Fed-member speaking engagements taking place today though that always carry the potential to influence the markets. Fed Vice Chairman Quarles is scheduled to speak at noon while Chairman Powell is set for 1:00 PM ET at a different event. Neither topic is considered to be highly important to mortgage rates, but their appearances will be watched closely for any new tidbits of information about the economy and future monetary policy plans in the future.

Next week brings us the release of a good number of relevant economic reports in addition to a couple of moderately relevant Treasury auctions. The week starts with Existing Home Sales data late Monday morning that will give us some insight into the housing market, but the more important releases are set for the latter days. 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 June 19th, 2020 11:12 AM

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