February 19th, 2021 11:44 AM by T. Fanning
TGIF,
It was not a good week for rates; across the board, rates were up. Next week has a handful of scheduled economic releases that may influence mortgage pricing. There is one report that is a bit more important than the others, but most of the data is considered to be of moderate importance to the markets. We also have two Treasury auctions set that have the potential to come into play during afternoon trading midweek. Monday doesn't have anything scheduled that we need to be concerned with. Hopefully, the current selling cycle in bonds will taper off next week, allowing mortgage rates to recover some of this week's losses.*
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.hlmcolorado.com/mortgageprograms
As always, please let me know if I can help you, your friends/family/potential buyers/borrowers!
Last Updated: 2/19/21
Friday's bond market has opened in negative territory again as the downward momentum continues. Stocks are showing gains for 87 points in the Dow and 71 points in the Nasdaq. The bond market is down 10/32 (1.32%), but we still should see little change in this morning's mortgage rates if comparing to Thursday's early pricing. This is due to strength in bonds late yesterday that led some lenders to improve pricing intraday. Unfortunately, if you did see an improvement before closing yesterday, you likely will see it disappear in this morning's pricing.
Today's only relevant economic data was January's Existing Home Sales report at 10:00 AM ET. The National Association of Realtors announced a slight increase in home resales from last month. Analysts were expecting to see a decline in sales, but a downward revision to December's numbers is the difference between an increase and decline. The number of homes sold during the month came in very close to expectations, indicating a flat housing sector that makes the report neutral for mortgage rates.
Next week has a handful of scheduled economic releases that may influence mortgage pricing. There is one report that is a bit more important than the others, but most of the data is considered to be of moderate importance to the markets. We also have two Treasury auctions set that have the potential to come into play during afternoon trading midweek. Monday doesn't have anything scheduled that we need to be concerned with. Hopefully, the current selling cycle in bonds will taper off next week, allowing mortgage rates to recover some of this week's losses. 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.*
*http://www.hlmcolorado.com/DailyRateAdvisoryLO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289
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