The Home Loan Mortgage Blog

Weekly Update - 12/27/19

December 27th, 2019 1:48 PM by T. Fanning



Hi, I hope you had a great Christmas and Holiday!

Rates were again mixed this week, with the changes being fairly minor. Next week will also be shortened by a holiday trading schedule but it does include some important economic data for the markets to digest. The calendar shows one moderately important release Tuesday and a highly important report Friday. Monday has nothing scheduled that is expected to influence mortgage 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: 12/27/19

Friday's bond market has opened in positive territory even though trading is light and many market participants are home for the extended holiday. The major stock indexes are mixed with the Dow up 44 points and the Nasdaq down 3 points. The bond market is currently up 5/32 (1.87%), which should improve this morning's mortgage rates by approximately .125 of a discount point.

Yesterday's 7-year Treasury Note auction followed suit of Tuesday's 5-year Note sale with a strong demand also. The benchmarks used to gauge investor demand showed strong interest in the securities just as Tuesday's auction did. Bonds didn't have much of a reaction to yesterday's results though.

The holiday week closes today with nothing scheduled that is expected to affect mortgage pricing. This morning's gains are good news for mortgage shoppers, but there is no apparent cause for the move. Therefore, we can't put too much faith in them until the holidays pass and trading volume is back to normal.

Next week will also be shortened by a holiday trading schedule but it does include some important economic data for the markets to digest. The calendar shows one moderately important release Tuesday and a highly important report Friday. Monday has nothing scheduled that is expected to influence mortgage rates. Look for details on next week's schedule and economic releases 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 December 27th, 2019 1:48 PM

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