The Home Loan Mortgage Blog

Weekly Update - 4/23/21

April 23rd, 2021 9:35 AM by T. Fanning


Hey, 

 

Rates were down a tad from last Friday’s numbers. Next week's calendar is filled with events that may influence mortgage rates. There is at least one item scheduled each day of the week. They include moderate and highly important economic reports, a couple of Treasury auctions and an FOMC meeting. Starting the week's activities will be the release of March's Durable Goods Orders report late Monday morning that will give us a measurement of manufacturing sector strength. There also is a Treasury auction that may come into play early afternoon.*

 

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: 4/23/21

 

Friday's bond market has opened in negative territory, causing an increase in this morning's mortgage pricing. Stocks are showing gains of 51 points in the Dow and 97 points in the Nasdaq. The bond market is currently down 8/32 (1.56%), which should push this morning's mortgage rates higher by approximately .125 of a discount point.

 

March's New Home Sales report was posted at 10:00 AM ET, revealing a 20.7% jump in sales of newly constructed homes. That was well above forecasts, even if comparing to February's numbers that were revised upward noticeably. The increase indicates the new home portion of the housing sector rebounded from February's slump, making the data bad news for bonds and mortgage rates.

 

Next week's calendar is filled with events that may influence mortgage rates. There is at least one item scheduled each day of the week. They include moderate and highly important economic reports, a couple of Treasury auctions and an FOMC meeting. Starting the week's activities will be the release of March's Durable Goods Orders report late Monday morning that will give us a measurement of manufacturing sector strength. There also is a Treasury auction that may come into play early afternoon. Look for details on all of next week's events 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

LO NMLS: 208694 | CO License: 100008854 | Company NMLS ID: 479289
           

Regulated by the Colorado Division of Real Estate

www.nmlsconsumeraccess.org



Posted by T. Fanning on April 23rd, 2021 9:35 AM

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