The Home Loan Mortgage Blog

Weekly Update - 3/18/22

March 18th, 2022 1:34 PM by T. Fanning

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Hi {#FirstName#},

 

Rates ended the week higher. Next week does not have much scheduled that we need to be concerned about. There are a couple of minor economic reports and one that is considered more important than the others Thursday. We have a Treasury auction midweek that may come into player during afternoon trading one day. The week starts off with nothing set for Monday, meaning we can expect weekend news from Ukraine to have the heaviest impact on rates until the data starts Tuesday.*

 

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: 3/18/22

 

Friday's bond market has opened in positive territory as traders get more comfortable with where inflation is and the Fed's actions to get it under control. Stocks are mixed with the Dow down 59 points and the Nasdaq up 101 points. The bond market is up 7/32 (2.14%), which should improve this morning's mortgage rates by approximately .125 - .250 of a discount point.

 

February's Existing Home Sales report was posted at 10:00 AM ET, revealing a 7.2% decline in home resales. This was a larger decline than expected, indicating weakness in the housing sector. Because housing weakness makes broader economic growth more difficult, we can consider this report slightly favorable for mortgage rates.

 

Next week does not have much scheduled that we need to be concerned about. There are a couple of minor economic reports and one that is considered more important than the others Thursday. We have a Treasury auction midweek that may come into player during afternoon trading one day. The week starts off with nothing set for Monday, meaning we can expect weekend news from Ukraine to have the heaviest impact on rates until the data starts Tuesday. 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.
*

 

*https://www.homeloanmortgageco.com/DailyRateLockAdvisory
                   

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 March 18th, 2022 1:34 PM

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