The Home Loan Mortgage Blog

Weekly Update - 9/21/18

September 21st, 2018 10:09 AM by T. Fanning



Hey,

Rates continued their upward climb, ending the week higher again. Next week brings us the release of a handful of economic reports that have the potential to influence mortgage rates in addition to a couple of Treasury auctions. The major event of the week though will be the FOMC meeting and related events that will take place Wednesday. There is nothing of importance scheduled for Monday.*

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: 9/21/18

Friday's bond market has opened fairly flat as the stressful week for mortgage rates looks to comes to a quiet close. The major stock indexes are showing moderate gains of 52 points in the Dow while the Nasdaq is up 8 points. The bond market is currently up 1/32 (3.06%), but strength in trading late yesterday should be enough to improve this morning's mortgage rates by approximately .125 of a discount point over Thursday's early pricing.

There is no relevant economic data or other mortgage rate-relevant activities scheduled for today. Accordingly, there is no reason to expect an active day for rates. As long as stocks remain near their current levels, bonds and mortgage pricing will likely follow suit.

Next week brings us the release of a handful of economic reports that have the potential to influence mortgage rates in addition to a couple of Treasury auctions. The major event of the week though will be the FOMC meeting and related events that will take place Wednesday. There is nothing of importance scheduled for Monday. Look for details on next week's calendar 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 September 21st, 2018 10:09 AM

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