Denver Mortgage Rates To Move Lower Or Is It Higher

Denver Mortgage Rates To Move Lower Or Is It Higher

After such a long time remaining at the lowest levels anyone can remember, Centennial   Cherry Hills Village and Greenwood Village mortgage rates have been climbing out of the cellar. No one who was paying attention expected them to stay at the almost unbelievably low levels they’d held for more than a year, so that was anything but a surprise.

But for Centennial  Cherry Hills Village and Greenwood Village home shoppers and sellers, it is the future of mortgage rates that is most important. Because Denver mortgage rates are the basis by which monthly payments are calculated, knowing what to expect in their movement would enable anyone to make the best decision about whether now is the time to buy or sell — or whether even a short delay might mean the same monthly outlay could buy more house.

Experience teaches that literally no one can accurately predict those rate movements, but I thought I’d look for some of the most current advice on the matter to see if they could supply any enlightenment. The answer (certainly more predictable than the rates) was…not really.

Last Friday, Mortgage News Daily had what you’d have to call the typical take. After headlining “Mortgage Rates Slightly Lower For Third Straight Day,” they admitted that the national rates, while under July 23rd lows, were reflecting “a detachment from the financial market data.”

In other words, the lower mortgage rates didn’t follow any rational reasoning that their correspondents could discover. Further explanation followed, but wasn’t much more helpful for making any predictions. “Quiet days and quiet weeks have a sort of inertia in that the higher and lower boundaries of rate movements are fairly well entrenched unless [blah blah blah]… which happens because of low volume and low participation.”

In other words: it’s August. Nothing (or anything) might happen when the financial traders are off on vacation. Another interpretation: if you’re intending to buy or sell a home in
  Centennial   Cherry Hills Village or Greenwood Village  , the hope that waiting will yield improved Centennial   Cherry Hills Village  or Greenwood Village   mortgage rates is unlikely to give you much more than a 50-50 chance.

 
In other words, give me a call when you’re ready to buy or sell. That’s the right time!

Jason Peck is part of the Carr Peck & Associates at Keller Williams. He has been recognized locally and nationally as in expert in real estate. Locally he is 6th in Denver Metro home sales out of 5,000 agents and has been recognized by the Wall Street Journal, Real Trends and RIS Media as one of the top selling agents in the country.  He is co-author of the National Best Selling Book, “The New Rise in Real Estate”. For more information feel free to 
contact him  or call 720-446-6301.

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Dated: August 13th 2013
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