Blogging About Loans: Mortgage Rate Indicators for Denver

An office of elite mortgage lending professionals with a common interest and goal focused on providing customer service that exceeds expectation. Thereby building our business from repeat and referral opportunities. Ruth Vogt. LMB 100023827. NMLS 257576. Regulated by the Division of Real Estate. Fairway Independent Mortgage is an Equal Housing Opportunity.

Mortgage Rate Indicators for Denver

Mortgage Rate Indicators for Denver

If you are thinking about buying a home, but holding off to see if the government is going to offer any new tax credits to entice you to buy, you might want to think again!

Interest rates are so much lower than they were when the tax credits were being offered. And the mortgage rate indicators are suggesting now is the time to act to take advantage of these low rates... while they last!

Low sales prices + Low interest rates = great time to buy!

But that formula won't last forever. It is very important to keep your eye on the Mortgage Rate Indicators to make sure you don't miss your opportunity to get your rate locked in while rates are low. One percent interest rate increase is approximately $60 per month extra per month per $100,000. 

Don't delay, call today!


Market Comment - Week of September 13th, 2010

Mortgage bond prices fell last week pushing interest rates considerably higher. The primary cause for the increases was stronger than expected data. Consumer confidence and weekly jobless claims beat estimates solidly and shocked the bond market lower. Overall the Treasury auctions and stronger stocks also pressured mortgage bond prices.

Rates rose by about 1/2 of a discount point for the week.

The retail sales data Tuesday will set the tone for trading this week. If any of the data comes in positive mortgage interest rates may continue the recent climb into higher territory. Expect more volatility, as stocks and bonds are likely to continue their back and forth trading pattern.


Economic Factors

Economic Indicator

Release Date Time

Consensus Estimate

Analysis

Retail Sales

Tuesday, Sept. 14, 2010

Up 0.2%

Important. A measure of consumer demand. Weakness may lead to lower mortgage rates.

Business Inventories

Tuesday, Sept. 14, 2010

Up 0.4%

Low importance. An indication of stored-up capacity. A significantly larger increase may lead to lower rates.

Industrial Production

Wednesday, Sept. 15, 2010

Up 0.4%

Important. A measure of manufacturing sector strength. A lower than expected increase may lead to lower rates.

Capacity Utilization

Wednesday, Sept. 15, 2010

75.0

Important. A figure above 85% is viewed as inflationary. Weakness may lead to lower rates.

Producer Price Index

Thursday, Sept. 16, 2010

Up 0.2%, Core up 0.2%

Important. An indication of inflationary pressures at the producer level. Decreases may lead to lower rates.

Weekly Jobless Claims

Thursday, Sept. 16, 2010

465k

Important. An indication of employment. An increase in jobless claims may bring lower rates.

Philadelphia Fed Survey

Thursday, Sept. 16, 2010

-4.2

Moderately important. A survey of business conditions in the Northeast. Weakness may lead to lower rates.

Consumer Price Index

Friday, Sept. 17, 2010

Up 0.1%, Core up 0.1%

Important. A measure of inflation at the consumer level. Lower figures may lead to lower rates.

 

Business Inventories

The report on business inventories basically gives a broader look at the durable goods, factory orders, and retail sales reports. Not only is this report an important part of the investment component of the GDP, but it also provides additional evidence about the economy in the upcoming months. Changes in business inventories slow as the economy approaches a peak, and rise as the economy approaches the trough of a recession. Therefore the change in business inventories is a leading indicator of GDP. The data for this report, which are published by the Department of Commerce's Census Bureau, comes from a monthly survey of inventories, orders, and manufacturers' shipments, in addition to the merchant wholesalers and retail trade surveys.

Not a great amount of attention is typically paid to this report due to the fact that much of the data is already available and surprises are rare. However, in this environment every piece of data has the potential to cause some volatility.


WR Starkey Mortgage, LLP - A different kind of company...where people come first!



Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Fairway Independent Mortgage.

Ruth Vogt Colorado Mortgage Lender Ruth Vogt, Sales Manager

 #LMB100023827, NMLSR# 257576

 Equal Housing Opportunity. 

 Regulated by the Division of Real Estate.

   www.ColoradoHomeLender.com

   ruthv@fairwaymc.com  303-881-7849.

 

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Comment balloon 9 commentsRuth Vogt • September 13 2010 11:14AM

Comments

Hi Ruth, you always keep mortgages and their rates simple. Easy to understand!

Posted by Jackie Connelly-Fornuff, "Moving at The Speed of YOU!" (Douglas Elliman Real Estate in Babylon NY) about 8 years ago

Hello Ruth, I'm re-blogging this - Thank you for posting!  :)

Posted by Jason M. Keith, Lending in 5280 (WR Starkey Mortgage) about 8 years ago

Ruth...Some excellent info in your report.  I will bookmark this blog...Thank you...Mike

Posted by Mike McCann - Nebraska Farm Land Broker, Farm Land For Sale 308-627-3700 or 800-241-3940 (Mike McCann - Broker, Farmland Broker-Auctioneer Serving Rural Nebraska) about 8 years ago

Jackie, Thanks for both stopping by AND for your compliments!

Jason, thanks for the reblog!

Mike, glad you found the info worth the bookmark.  :)

Posted by Ruth Vogt, 719-592-0855 Apply 24/7 www.ColoradoHomeLender.com (Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate.) about 8 years ago

Ruth - Certainly encouraging news for home buyers.

Posted by Kathy Clulow, Trusted For Experience - Respected For Results (RE/MAX All-Stars Realty Inc. Brokerage) about 8 years ago

Yes, indeed it is, Kathy!

Posted by Ruth Vogt, 719-592-0855 Apply 24/7 www.ColoradoHomeLender.com (Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate.) about 8 years ago

Hi Ruth,

Great blog..buyers will love the sounds of this report!

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) about 8 years ago

Dorie, If they hear it, I'm confident they will. Just hope they hear it soon enough!

Posted by Ruth Vogt, 719-592-0855 Apply 24/7 www.ColoradoHomeLender.com (Fairway Independent Mortgage, LLS. Equal Housing Opportunity. Regulated by the Division of Real Estate.) about 8 years ago

Hi Ruth I've received my I.R.E.S. Designation in Vancouver, BC, Canada and I noticed that you have similar designations.  I'm messaging you because I want to expand my international connections.  I'm presently building a larger network so that your listings can be featured in my city (for an international exposure), and mine can be featured by you.  Presently I have approximately 20 listings which might be of interest to you.  

Interested?  Look forward to chatting some more with you with respect to co-listing each other's properties, if you are interested in speaking further?  Cheers, Jark.

Posted by Jark Krysinski *PREC (Personal Real Estate Corporation), TeamYVR Team Leader, BA,ABR,IRES,IMSD,LLB (REMAX CREST REALTY WESTSIDE) about 6 years ago

Participate