The Home Loan Mortgage Blog

Weekly Update - 9/8/17

September 8th, 2017 1:17 PM by T. Fanning



Happy Friday!

As you may have heard, Equifax was hacked. To see if your information was possibly stolen, you can click on the following link:  https://www.equifaxsecurity2017.com/consumer-notice/

If you have been impacted, here is what Equifax recommends:

We recommend that you remain vigilant for incidents of fraud and identity theft by reviewing account statements and monitoring your credit reports. You may obtain a free copy of your credit report from each company listed below once every 12 months by requesting your report online at www.annualcreditreport.com, calling toll-free 1-877-322-8228, or mailing an Annual Credit Report Request Form (available at www.annualcreditreport.com) to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA, 30348-5281. You may also purchase a copy of your credit report by contacting any of the credit reporting agencies below:

Equifax
PO Box 740241
Atlanta, GA 30374
www.equifax.com
888-766-0008

Experian
PO Box 9554
Allen, TX 75013
www.experian.com
888-397-3742

TransUnion
PO Box 2000
Chester, PA 19016
www.transunion.com
800-680-7289

If you believe you are the victim of identity theft, you should contact the proper law enforcement authorities, including local law enforcement, and you should consider contacting your state attorney general and/or the Federal Trade Commission (“FTC”). You also may contact the FTC to obtain additional information about avoiding identity theft.


Now on to rates - another down week! Next week brings us the release of several economic reports that are likely to affect mortgage rates in addition to a couple of Treasury auctions. The data comes mid and late week while the auctions will take place mid-week. Monday doesn't have anything set that we need to be concerned about.*


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; 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: 9/8/17

Friday's bond market has opened in negative territory as traders look to capture profits from the recent rally. Stocks are mixed but fairly calm with the Dow up 22 points and the Nasdaq down 12 points. The bond market is currently down 8/32 (2.06%), which should keep this morning's mortgage rates close to Thursday's morning pricing. Some lenders improved rates intraday yesterday, but this morning's losses erased those gains. 

There is no relevant economic data scheduled for release today. That leaves us to believe stock movement is the best candidate as the source of an intraday change in rates. If the major stock indexes remain near current levels the rest of the day, bonds and mortgage rates are likely to follow suit.

Next week brings us the release of several economic reports that are likely to affect mortgage rates in addition to a couple of Treasury auctions. The data comes mid and late week while the auctions will take place mid-week. Monday doesn't have anything set that we need to be concerned about. Look for details on next week's calendar in this weekend'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 September 8th, 2017 1:17 PM

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