It’s a Day of Technicals. Not a lot of impact releases today. Most Traders are still a little jittery about what’s going on in Europe, with Hungary being the “new” concern. The Stock Markets are down a little bit this morning and Bond Markets are fairly even. Depending when Lenders re-priced last Friday, Mortgage Rates should be Improved. This weeks releases to watch will be the Treasury Auctions (how are they received -may be good with all the bad news in Europe), Initial Jobless Claims and Retail Sales. Make sure you check out the video, as I show with the Candlestick Chart why we may see Home Loan Rates remaining low for awhile.
Colorado Mortgage & Home Loan rates again improved. This was primarily due to the jobless claims spiking to 417000. That is bad for the people who are out of work and shows that the economy isn’t improving; however bad news for the economy means good news for the bond market. That translates…
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