The Home Loan Mortgage Blog

Weekly Update - 1/22/21

January 22nd, 2021 12:52 PM by T. Fanning

TGIF, I hope you had a good week.

Rates were mixed with small changes. 
Next week has little scheduled compared to this week's calendar. Most of what is set for release is related to the housing sector. The stock and bond markets will be closed Monday for the Martin Luther King Jr holiday and will reopen for regular trading Tuesday morning. Some lenders may be open for business Monday, but they likely will use this afternoon's pricing or not accept new rate locks until Tuesday morning.*

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:

As always, please let me know if I can help you/friends/family/potential buyers/borrowers!  

Last Updated: 1/22/21

Friday's bond market has opened in positive territory despite unfavorable economic data. Stocks are mixed with the Dow down 151 points and the Nasdaq up 1 point. The bond market is currently up 4/32 (1.09%), which should improve this morning's mortgage rates slightly if comparing to Thursday's early pricing.


Today's only relevant economic data came from the National Association of Realtors at 10:00 AM ET. Their Existing Home Sales report for December showed that home resales rose 0.7% last month, exceeding forecasts. The increase brought annual sales to their highest level since 2006, showing that the housing sector remains one of the few bright spots in the economy. Accordingly, we should consider the data bad news for bonds and mortgage rates.


Next week has a large number of economic releases and other events scheduled that have the potential to affect mortgage rates. Some of the data being posted is considered to be very important to the markets. In addition to the large number of economic reports, we also have two moderately important Treasury auctions and the first FOMC meeting of the new year taking place. It will undoubtedly be an active week in the financial and mortgage markets. Monday is the only day that doesn't have at least one item scheduled. Look for details on all of next week's relevant 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...

Float 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.*


LO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289
Regulated by the Colorado Division of Real Estate

Posted by T. Fanning on January 22nd, 2021 12:52 PM



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