Boulder Real Estate And Lending Market
Just a short note to share with you some comments from Nora Ziel at Cherry Creek Mortgage. She and I look at what’s going on in the market that might affect Boulder real estate and lending each week. This is a highlight of what we’re seeing happening.
The bond market is finally starting to stabilize after a rough couple of days. Existing Home Sales for April were better than expectations but still slightly lower than last months’ revised number. This is a national look at pre-owned homes as opposed to new construction.
Overall, it was a relatively weak report and translates to selling pressure on stocks. Today’s local Daily Camera also reports that stocks fell as rising oil prices continued to raise worries that consumers will cut back spending and thereby affect the overall economy.
Even though bonds are trading higher, it may still be a good time to lock as there are several layers of overhead resistance.
We have a couple of important economic indicators next week that will have a high impact on rates. Nora says she’ll keep an eye on them and let us know how the data impacts rates.
Nothing much to do until Tuesday with this but if you’re thinking of taking some action on securing a loan or locking your rate, let us know this weekend and we’ll see how things have settled out after Memorial Day.
See you at the Bolder Boulder!
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