The Home Loan Mortgage Blog

Weekly Update - 7/20/18

July 20th, 2018 1:16 PM by T. Fanning



Hello,

Rates were flat this week. Next week brings us a handful of relevant economic reports that may influence mortgage rates, but only one is considered to be important. There are also a couple of Treasury auctions that have the potential to slightly affect the mortgage market. We do have a Monday release with June's Existing Home Sales data being posted.*

We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: 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: 7/20/18

Friday's bond market has opened in negative territory despite a calm open for stocks and no important economic data on tap today. The major stock indexes are mixed with the Dow down 2 points and the Nasdaq up 15 points. The bond market is currently down 10/32 (2.87%), but strength in bonds late yesterday should prevent an increase in this morning's mortgage rates.

Some lenders improved pricing intraday yesterday as bonds improved late in the day. If your lender improved pricing before closing Thursday, you should see an increase in this morning's rates by the same amount. The net difference between Thursday's morning rates and this morning's pricing should be nearly unchanged.

There is no relevant economic data being released today. There is no clear reason for this morning's bond weakness other than some traders being pessimistic about which direction yields may be heading. Stocks aren't having an impact on today's bond trading or mortgage rates. If the major indexes make a noticeable move either direction, it could cause movement in bonds and possibly mortgage rates later today. Other than that, a pretty dead day in terms of data or other events to watch for mortgage rates direction.

Next week brings us a handful of relevant economic reports that may influence mortgage rates, but only one is considered to be important. There are also a couple of Treasury auctions that have the potential to slightly affect the mortgage market. We do have a Monday release with June's Existing Home Sales data being posted. Look for details on it and the rest of the 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...
Lock 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
Posted in:General
Posted by T. Fanning on July 20th, 2018 1:16 PM

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