The Home Loan Mortgage Blog

Weekly Update - 9/8/23

September 10th, 2023 5:37 PM by T. Fanning

Happy Friday, I hope you’re doing well!

 

Rates gave back some of last week’s decrease, ending the week a bit higher. Next week has several highly important events taking place. The week starts light with Monday and Tuesday morning not having a single item that we need to be concerned with. However, activities will begin Tuesday afternoon with results of the 10-year Treasury Note auction and quickly get more relevant from there. Wednesday and Thursday bring us two key inflation readings (CPI and PPI) and an important consumer spending report.*

 

We offer Conventional, FHA, VA, USDA, Jumbo and regular construction financing. Some of our niches include: Chenoa Fund loans (100% FHA financing); Conventional, 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 can also do non-traditional programs! 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!


Last Updated: 9/8/23

 

Friday's bond market has opened in positive territory, extending yesterday's late gains. Stocks are showing moderate gains during early trading, pushing the Dow up 57 points and the Nasdaq up 73 points. The bond market is currently up 9/32 (4.21%), which should improve this morning's mortgage rates by approximately .250 of a discount point. If you saw an intraday improvement before closing yesterday, you should see a smaller improvement this morning.

 

There is nothing scheduled for today that is expected to influence mortgage rates. Bonds gained some momentum late Thursday, likely a result of maintaining their recent trading range. With little to drive trading this morning, we are seeing that positive tone carry into this morning's session. It is worth noting that this type of move is vulnerable to backtrack easily, especially right before the weekend. In other words, don't be surprised to see a minor negative move before the end of the day.

 

Next week has several highly important events taking place. The week starts light with Monday and Tuesday morning not having a single item that we need to be concerned with. However, activities will begin Tuesday afternoon with results of the 10-year Treasury Note auction and quickly get more relevant from there. Wednesday and Thursday bring us two key inflation readings (CPI and PPI) and an important consumer spending report. Look for details on next week's full calendar 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...
Lock 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 September 10th, 2023 5:37 PM

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