Here's a great update I heard from my friend Todd Kooi at Bank of Colorado. Amidst all the negative info we get from media, here's the real scoop on the American economy! Check this out! ---Lisa Y
Todd Kooi NMLS #: 554489 Senior Mortgage Loan Officer Bank of Colorado Phone: (720) 480-0280 todd.kooi@bankofcolorado.com www.bankofcolorado.com/tkooi 1888 W Eisenhower Blvd Loveland, CO 80537
This past week was filled with so much good news. The biggest of which was the signing of Phase One of the U.S. and China trade pact.
This trade deal is a very positive development for the U.S., China, and the world, and paves the way for future business investment and other trade deals around the globe. This also removed what was a big uncertainty for many months.
The economic data was already amazing with the following reports coming in better than expectations:
Small Business
Retail Sales
Philly Fed Index
Initial Jobless Claims
And speaking of better than expectations, we also watched the start of corporate earnings season and most of the big banks handily beat expectations.
All of this good news has pushed Stocks to all-time highs, but at the same time Mortgage Bonds and home loan rates remained right at the best levels in three years... remarkable.
Bottom line: the U.S. economy remains quite strong with zero chance of a recession anytime soon, yet at the same time home loan rates have not moved higher, giving many an incredible opportunity to purchase or refinance a home.
If you or someone you know has questions about home loans, give Todd Kooi a call.