The Home Loan Mortgage Blog

Weekly Update - 10/18/19

October 18th, 2019 11:56 AM by T. Fanning



TGIF! I hope you are doing well!

Rates were mixed and the movement was minimal. Next week has several economic reports that we will be watching in addition to a couple of Treasury auctions. One of the reports is more important than the others but comes late in the week. There is nothing of importance set for Monday, meaning we can expect weekend news and possibly stock movement to drive bond trading and mortgage rates 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: 10/18/19

Friday's bond market has opened down slightly despite favorable economic news and early stock losses. The Dow is currently down 71 points while the Nasdaq has gained 14 points. The bond market is currently down 2/32 (1.75%), which should help push this morning's mortgage rates slightly higher than Thursday's early pricing.

Today's only economic data was September's Leading Economic Indicators (LEI) at 10:00 AM ET. The Conference Board announced a 0.1% decline in the index when analysts were expecting to see a slight increase. The weaker reading is good news for bonds and mortgage rates since this index attempts to predict future economic growth. However, it is not considered to be a highly important report and has had a minimal impact on this morning's rates.

Next week has several economic reports that we will be watching in addition to a couple of Treasury auctions. One of the reports is more important than the others but comes late in the week. There is nothing of importance set for Monday, meaning we can expect weekend news and possibly stock movement to drive bond trading and mortgage rates 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...
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 October 18th, 2019 11:56 AM

Archives:

Categories:

My Favorite Blogs:

Sites That Link to This Blog:

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question