Existing Home Sales rebounded last month after a lackluster July. New Home Sales data, by contrast, did not. After an upward revision to July's data, New Home Sales remained unchanged at 288,000 units in August. It marks the second-lowest number of units sold in a month since 1963, the year gover
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09/28/2010
Mortgage markets improved last week as markets digested a bevy of data from the housing sector, plus the scheduled Federal Open Market Committee meeting. In back-and-forth trading, Colorado Mortgage Rates bottomed out Wednesday before rising through Friday's afternoon close. Rates still managed
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09/27/2010
Today, in its 7th meeting of the year, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Funds Rate remains at a historical low, within a Fed's target range of 0.000-0.250 percent. In its press release, the FOMC said that the pace of economic recovery
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09/21/2010
The Federal Open Market Committee adjourns from its 6th scheduled meeting of the year today, and 7th overall. Upon adjournment, Federal Reserve Chairman Ben Bernanke will release a formal statement to the market. In it, the Fed is expected to announce "no change" to the Fed Funds Rate. Currently,
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09/21/2010
What is a Mortgage Rate Float Down? - Denver, Colorado Are you paranoid about when to lock your mortgage rate? Don't worry, lenders are now offering a mortgage rate float down option. What is a mortgage rate float down? If you lock your mortgage rate today and rates get better, a mortgage rate
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09/21/2010
Colorado Mortgage Rates were highly volatile, yet relatively unchanged last week in back-and-forth trading on Wall Street. Global investors are grappling with the state of U.S. economy and unable to discern whether it's growing, or slowing. As an real-world illustration, the government's August R
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09/21/2010
According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings climbed 4 percent in August from the month prior. A foreclosure filing is defined as default notice, scheduled auction, or bank repossession. Despite the number of filings surpassing 300,000 for the 18th straight
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09/16/2010
Want a lower mortgage rate on your upcoming Colorado Home Purchase? Think about moving up the closing date. The reason is rooted in "rate locks", a bank's guarantee to honor a specific mortgage rate for a specific, finite period of time. Rate locks allow home buyers to reserve mortgage rates toda
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09/16/2010
The recent rise in Colorado mortgage rates was slowed this week after the government released its Retail Sales report for August. Prior to Tuesday, Colorado mortgage rates had been spiking across Colorado on the resurgent hope for U.S. economic recovery. The sentiment shift was rooted in reports
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09/16/2010
A shift in Wall Street sentiment caused Colorado mortgage rates to worsen last week. There wasn't much in the way of new data, but the numbers that did hit the street helped quell fears of a double-dip recession. Colorado mortgage rates rose between Monday-Friday for the first time since June, an
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09/13/2010
