Latest from the Mortgage Blog
Rates Spike 0.5% During Last Week
I was not kidding when I said the rate movement higher was violent and historic - 0.5% in one week is no fun. Keep in mind this rate is with a 1% origination fee/discount point. To put things in perspective though, April 2000, the 30 year fixed was 8.5%. http://money.cnn.com/2013/06/27/real_estate/mortgage-interest/index.html
Denver and Thornton Ease Water Restrictions
The big spring snow in the mountains and a sharp drop in water use by metro Denver residents has driven utility officials to loosen lawn-watering rules. Denver water commissioners on Wednesday decided to let customers water their lawns and gardens three days a week, instead of two. Great news for all homeowners!
Luxury Home Sales Jump, And We've Got The Loan!
According the latest report from the Denver Post, luxury home sales in Denver jumped 33% in May. We have in house underwriting, with common sense guidelines that can help your Jumbo clients close quickly and smoothly! http://www.denverpost.com/breakingnews/ci_23537662/luxury-home-sales-jump-33-percent-denver-metro
Denver Real Estate Market is RED HOT
This report is showing that Denver's real estate market continues to be red hot, with a 1 month supply of unsold homes. Rates are moving higher, so more and more buyers are looking to do something quickly. If you are not pre-approved, you need to be, and I can help! http://online.wsj.com/article/PR-CO-20130618-908987.html
Inflation Heats Up!
Inflation was reported higher today, which is great news for the economy, as it means it is strengthening, after the deflationary environment we saw in the last years. This is however not good news for low rates, as we are seeing the bond market sell off a bit this morning. http://www.reuters.com/article/2013/06/18/us-usa-economy-prices-idUSBRE95H0HZ20130618