The Home Loan Mortgage Blog

Weekly Update - 11/22/19

November 22nd, 2019 11:03 AM by T. Fanning



Stay warm this weekend!

Rates had another good week, ending the week lower. Next week has a handful of relevant economic reports for the markets to digest, including one that is of elevated importance. All of the data will be posted over two days though due to the shortened holiday 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: 11/22/19

Friday's bond market has opened up fairly flat despite stronger than expected economic data and early stock gains. The Dow is currently up 92 points while the Nasdaq has gained 7 points. The bond market is currently up 1/32 (1.77%), which should keep this morning's mortgage rates close to Thursday's early pricing.

Today's relevant economic report was November's revised University of Michigan Index of Consumer Sentiment. It came in at 96.8, up from the preliminary reading two weeks ago and a little higher than forecasts. The higher reading means more surveyed consumers felt better about their own financial situation than did last month. Because rising sentiment usually means consumers are more willing to spend money, we should consider this news slightly negative for mortgage rates.

Next week has a handful of relevant economic reports for the markets to digest, including one that is of elevated importance. All of the data will be posted over two days though due to the shortened holiday 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 November 22nd, 2019 11:03 AM

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