Denver Mortgage Rates Report by RJ Baxter First Mortgage Corp
Denver Mortgage Rates ended the week higher on positive signs that the economy is recovering. Remember that positive economic data almost always results in higher mortgage rates.
The week was volatile with many wild swings in the bond markets. A big report of note was released on Friday, with retail sales showing an increase of +.3% after last months reading of +.5%.
But wait- don't be so fast to judge this as a positive. Last month's reading was revised down to only +.1%, which put a negative spin on Friday's release.
Even if retail sales are improving, this could be the first signs of impending inflation. Inflation is the enemy of long term mortgage rates, and there is much talk in the markets that inflation could be a future problem as the velocity of money may start to increase. I will be writing more about the velocity of money tomorrow.
This week will be a big market-mover as inflation numbers are released. This will be an interesting read as the Fed policy statement and Federal Funds Rate announcement will come tomorrow. The markets will be watching closely, and this series of releases could lead to extreme volatility with Denver Mortgage Rates.
You can find the full Denver Mortgage Rates Report here or subscribe to updates via RJ Baxter on Twitter.
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RJ Baxter First Mortgage Corp
Branch Manager
303-670-0137 (direct)
27902 Meadow Drive, Suite 120
Evergreen, Colorado 80439
