The Home Loan Mortgage Blog

Weekly Update - 9/17/21

September 17th, 2021 1:13 PM by T. Fanning

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Hey, I hope you’ve had a great week!

 

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 were mixed this; conventional loans saw a small increase; government loans (FHA, VA, USDA) saw a small decrease. Next week's economic releases are mostly housing-related reports with none of them considered to be highly important. There also is a Treasury auction scheduled that may affect rates during afternoon trading one day. However, the most important day will be Wednesday because of the FOMC meeting that will adjourn, followed by revised economic projections from the Fed and a press conference with Chairman Powell that afternoon. Monday has nothing of importance set, meaning we can expect weekend news to be the biggest influence on trading as the new week begins.*

 

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: 9/17/21

 

Friday's bond market has opened in negative territory, extending yesterday's post-Retail Sales report selling. Stocks are also showing more losses with the Dow down 109 points and the Nasdaq down 88 points. The bond market is currently down 11/32 (1.37%), which should push this morning's mortgage rates higher by approximately .125 of a discount point if compared to Thursday's early pricing.

 

Today's sole relevant economic report was September's Index of Consumer Sentiment from the University of Michigan at 10:00 AM ET. It came in at 71.0, up a little from August's 70.3 but lower than forecasts of 72.0. This means surveyed consumers are a little more optimistic about their own financial situations this month than last. Since it was an increase but lower than expected, we can consider the data neutral for bonds and mortgage rates. The revised reading for this month will come in two weeks.

 

Next week's economic releases are mostly housing-related reports with none of them considered to be highly important. There also is a Treasury auction scheduled that may affect rates during afternoon trading one day. However, the most important day will be Wednesday because of the FOMC meeting that will adjourn, followed by revised economic projections from the Fed and a press conference with Chairman Powell that afternoon. Monday has nothing of importance set, meaning we can expect weekend news to be the biggest influence on trading as the new week begins. 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.
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*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 17th, 2021 1:13 PM

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