Colorado 
Mortgage markets worsened last week for the first time in 6 weeks. Investors were pleased with corporate earnings reports and the European bank stress tests results. Stocks gained on the news, and bonds lost.
Colorado Mortgage Rates rose last week, but only slightly. Rates are still hovering near their lowest levels of all-time.
Of the bigger stories last week was Existing Home Sales. As reported by the National Association of Realtors®, sales volume was down in June and home supplies were up. But figures were a bit better than expected, giving some hope for housing.
Notably, the number of move-up buyers outnumbers first-timers and the national median home price rose, suggesting that mid-to-upper home prices are getting some support.
This week, the market gets additional two pieces of housing data to add to the mix:
- New Homes Sales (Monday)
- Case-Shiller Index (Tuesday)
Both will have an impact on Colorado Mortgage Rates. In general, better-than-expected data should cause Colorado Mortgage Rates to rise; worse-than-expected data should cause rates to fall.
Also this week, there's two consumer confidence reports, the Fed's Beige Book, and late-in-the-week inflationary data. Colorado Mortgage markets should remain volatile with so much news headed down the pipe.
It's too soon to declare the current 3-month rally over, but it's been 3 weeks since rates dipped. This can be a signal that Colorado Mortgage Rates have finally bottomed and that it's time to lock your rate.
If you're floating a mortgage rate, or thinking about a Colorado Refinance, it's time to get locked in. Rates may drop this week, but then again, maybe they won't. There's little sense gambling on a bet as big as a mortgage.
See Today's Colorado Mortgage Rates & find out more about getting a Colorado Home Loan
RJ Baxter First Mortgage Corp
Branch Manager
303-670-0137 (direct)
27902 Meadow Drive, Suite 120
Evergreen, Colorado 80439
