The Home Loan Mortgage Blog

Weekly Update - 9/10/21

September 10th, 2021 10:15 AM by T. Fanning

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Hi, happy Friday.

 

We now serve the state of Florida! Let me know if I can be of any help with any buyers/borrowers in either Colorado or Florida!

 

Rates again ended the week mixed. Next week brings us the more important sister release of today's PPI, August's Consumer Price Index (CPI). We also will get an extremely important consumer spending report later in the week, in addition to a couple of moderately important releases. Monday has nothing of importance scheduled at this time.*

 

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: 9/10/21

 

Friday's bond market has opened in negative territory following stronger than expected inflation data. Stocks are mixed but calm with the Dow down 57 points and the Nasdaq up 38 points. The bond market is currently down 8/32 (1.32%), 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. If you saw an intraday improvement before closing yesterday, you likely will see no change in this morning's rates.

 

Yesterday's 30-year Treasury Bond auction followed suit of Wednesday's 10-year Note sale by drawing a strong demand from investors, indicating a good appetite still for long-term securities. The positive reaction from bonds after results were posted at 1:00 PM ET was strong enough to cause many lenders to revise rates lower before closing.

 

This morning's release of the Producer Price Index (PPI) didn't show any significant surprises. The 0.7% increase in the overall reading and 0.6% in the core data were a bit stronger than the 0.6% and 0.5% that were expected. The stronger than forecasted increases are bad news for bonds, but with inflation pretty volatile at this time, the small variance was not enough to cause heavy selling this morning.

 

Next week brings us the more important sister release of today's PPI, August's Consumer Price Index (CPI). We also will get an extremely important consumer spending report later in the week, in addition to a couple of moderately important releases. Monday has nothing of importance scheduled at this time. 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/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 September 10th, 2021 10:15 AM

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