The Home Loan Mortgage Blog

Weekly Update - 11/19/21

November 19th, 2021 1:52 PM by T. Fanning

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TGIF, I hope you have a great Thanksgiving!

 

We now serve the state of Florida! Let me know if I can be of any help with any buyers/borrowers in either Colorado or Florida!

 

It was a much better week for rates, with decreases across the board. Despite next week being shortened due to the Thanksgiving holiday, there still is plenty scheduled that may affect mortgage rates. The week starts with October's Existing Home Sales report late Monday morning and Treasury auction results that afternoon. Wednesday has a slew of economic releases scheduled before the holiday closure Thursday.*

 

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; 1.50% 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.homeloanmortgageco.com/mortgageprograms

 

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


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Last Updated: 11/19/21

 

Friday's bond market has opened well in positive territory as COVID news makes headlines this morning. Stocks are mixed again with the Dow down 229 points and the Nasdaq up 92 points. The bond market is currently up 16/32 (1.53%), which should improve this morning's mortgage rates by approximately .250 of a discount point.

 

There is nothing of importance scheduled for release today. We are seeing the markets respond to growing COVID fears in Europe, particularly Austria's mandatory lockdown and vaccination announcement. Those actions renewed concerns that the winter season may bring a surge in cases that would likely negatively impact the economy again. Generally speaking, what is bad news for the economy is good news for bonds and mortgage rates.

 

Despite next week being shortened due to the Thanksgiving holiday, there still is plenty scheduled that may affect mortgage rates. The week starts with October's Existing Home Sales report late Monday morning and Treasury auction results that afternoon. Wednesday has a slew of economic releases scheduled before the holiday closure Thursday. 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.
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*http://www.hlmcolorado.com/DailyRateAdvisory
          

Company NMLS ID: 479289 | LO NMLS: 208694

CO License: 100008854

FL Company License: MBR4416 | FL License: LO89221

 

Regulated by the Colorado Division of Real Estate

www.nmlsconsumeraccess.org
Posted by T. Fanning on November 19th, 2021 1:52 PM

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