The Home Loan Mortgage Blog

Weekly Update - 2/23/18

February 23rd, 2018 11:28 AM by T. Fanning



Hello, I hope you're doing well!

Another week, another small increase. Other than the ARM products, fixed rates saw a minor uptick. ARM's are increasingly becoming a more attractive option, as fixed rate loans continue their upward trend. Next week has a very busy calendar with relevant economic data posted every day, some of which is highly important. Also taking place is the new Fed Chairman Powell's first semi-annual testimony updating congress on the economy and monetary policy. That event will be a primary focus of an already busy week. We do have a minor release set for Monday- January's New Home Sales.*

We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: a Conventional, FHA and VA 1x Close Construction-Perm; 1% Down Conventional Program; 1.50% Down FHA Advantage Program; CHFA Financing; 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: 2/23/18

Friday's bond market has opened in positive territory again despite a lack of economic releases or other events to driving trading. The major stock indexes are also showing gains, pushing the Dow higher by 92 points and the Nasdaq up 31 points. The bond market is currently up 11/32 (2.88%), which should improve this morning's mortgage rates by approximately .125 - .250 of a discount point.

Yesterday's 7-year Treasury Note auction went a little better than Wednesday's sale did but still was in the average category for describing investor demand. Results were posted at 1:00 PM ET yesterday and we saw little reaction in the bond market, meaning it had not impact on mortgage pricing. The 10-year Note and 30-year Bond sales that will take place in a couple of weeks are likely to have a stronger influence on rates.

There is nothing scheduled for today in terms of economic reports or other related releases that are expected to affect bond trading or mortgage pricing. There are several speaking engagements by current Fed members throughout the day that have the potential to do so. They always draw attention but often no reaction. If the speeches say anything unexpected, particularly about monetary policy and this year's rate hikes, we could see their words move markets enough to slightly change mortgage rates. But it is more likely that these will be a non-factor in today's mortgage rates.

Next week has a very busy calendar with relevant economic data posted every day, some of which is highly important. Also taking place is the new Fed Chairman Powell's first semi-annual testimony updating congress on the economy and monetary policy. That event will be a primary focus of an already busy week. We do have a minor release set for Monday- January's New Home Sales. 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
Posted in:General
Posted by T. Fanning on February 23rd, 2018 11:28 AM

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