The Home Loan Mortgage Blog

Weekly Update - 12/31/21

December 31st, 2021 2:30 PM by T. Fanning

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Happy New Years Eve! Have a great night and be safe!

 

Rates ended the week mixed. Closing out this week's calendar was the revised University of Michigan Index of Consumer Sentiment for December at 10:00 AM ET. Next week has plenty more scheduled for the markets to digest than this week did. There is nothing of importance scheduled for Monday, but every other day has at least one item set for release. Two of the economic reports, December's ISM index and Employment report are expected to heavily influence the markets. The minutes from this month's FOMC meeting also carry the potential to do so.*

 

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: 12/31/21

 

Friday's bond market has opened in negative territory as the year quietly winds down. Stocks are showing early losses with the Dow down 72 points and the Nasdaq down 30 points. The bond market is currently down 3/32 (1.51%), but gains late yesterday should allow this morning's mortgage rates to be approximately .125 of a discount point lower than Thursday's early pricing.

 

There is nothing on today's calendar that we need to be concerned with. We are seeing light pre-holiday trading, meaning we should not put much weight into any improvements or increases in mortgage pricing today. We should see normal trading patterns return next week.

 

The bond market will close at 2:00 PM ET today in recognition of the New Year's Day holiday while stocks have a full day of trading. All markets will reopen for regular trading hours Monday.

 

Next week has plenty more scheduled for the markets to digest than this week did. There is nothing of importance scheduled for Monday, but every other day has at least one item set for release. Two of the economic reports, December's ISM index and Employment report are expected to heavily influence the markets. The minutes from this month's FOMC meeting also carry the potential to do so. Look for details on all of next week's activities in Sunday evening's weekly preview.

 

We would like to wish all of our readers and their families a safe and wonderful holiday!

 

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.*

 

*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 December 31st, 2021 2:30 PM

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