The Home Loan Mortgage Blog

Weekly Update - 7/9/21

July 9th, 2021 2:12 PM by T. Fanning


Hi, I hope you’re having a good week!

 

It was a fantastic week for rates, as we hit five month lows. Next week has reports that are expected to influence rates scheduled four of the five days, some of which are considered to be highly important to the markets. Monday is the only day without at least one economic release but it has a 10-year Treasury Note auction taking place that may come into play during afternoon trading. A couple of the scheduled events are inflation readings that will draw plenty of attention from the bond market, and therefore, may cause noticeable movement in rates.*

 

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: 7/9/21

 

Friday's bond market has opened well in negative territory with little to drive trading other than profit-taking. Stocks are showing strong gains to wrap up the week, pushing the Dow higher by 342 points and the Nasdaq up 30 points. The bond market is currently down 17/32 (1.24%), which should cause this morning's mortgage rates to be higher by approximately .125 - .250 of a discount point.

There is no relevant economic data set for release today. This morning's weakness in bonds does not come as a surprise. As mentioned in yesterday's update, today is a good opportunity for traders to sell some holdings to lock in profits from the recent rally in bonds. That doesn't necessarily signal the end of the downward move in yields and mortgage pricing though. It may just be a pause before traders decide which direction to go.

Next week has reports that are expected to influence rates scheduled four of the five days, some of which are considered to be highly important to the markets. Monday is the only day without at least one economic release but it has a 10-year Treasury Note auction taking place that may come into play during afternoon trading. A couple of the scheduled events are inflation readings that will draw plenty of attention from the bond market, and therefore, may cause noticeable movement in rates. 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 pl ace 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 July 9th, 2021 2:12 PM

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