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Colorado Home Mortgages, Inc.
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Daily Market Analysis




Prior to 8:30 this morning the 10 yr rate was down to 1.85%, -1 bp frm yesterday. 8:30 weekly jobless claims were better than expected down 20K to 268K against estimates of 285K. Last week’s claims were revised up by 6K; the 4 week average declined to 285,500 frm 300,250. The less claims turned the bond and mortgage markets frm slight gains to slight losses; at 9:00 the 10 1.87% +1 bp and 30 yr MBS price -14 bps frm yesterday’s close and unchanged from 9:30 yesterday. The main thing today is tomorrow’s March employment data. After the weaker than expected ADP report yesterday traders are lowering their numbers frm about 247K to closer to 200K.
The Commerce Department showed the U.S. trade deficit shrank in February to the lowest level in more than five years as a labor dispute at West Coast ports contributed to the weakest reading on imports since 2011. The gap narrowed 16.9% to $35.4B. Imports were the lowest since April 2011.
Negotiations with Iran over its nuke program look like they are not going to get the deal the White House wanted. There was a deadline on Tuesday that went by with nothing and this morning still nothing. Crude this morning is lower even with Iran sanctions not likely to be lifted.
The claims this morning causing more confusion, claims at the lowest level in 9 weeks while most other measurements of the economy have been declining. Goldman Sachs out this morning questioning the claims in relation to other data, saying the labor market is likely to slow down as retail sales and manufacturing reports slow. This chart of economic surprises by sector shows the contradiction nicely. Only the labor market data has been coming in above expectations.

At 9:30 the DJIA opened unchanged as did the S&P, the NASDAQ +4. 10 yr note +1 bp to 1.87% and 30 yr MBSs -9 bp frm yesterday’s close and up 5 bps frm 9:30 yesterday.
Feb factory orders at 10:00, expected flat after declining 0.2% in Jan; as released orders +0.2% but Jan revised from -0.2% to -0.7%.
The NFIB released its report this morning. According to the report job gains are likely to slow going forward. “The net percent of owners reporting an increase in employment fell 5 percentage points to a net -1 percent of owners, down substantially from the recent high of 9 percent in December 2014. The percent of owners cutting jobs rose 1 point to 12 percent while the percent increasing employment fell 4 points to 11 percent. The jobs numbers will not provide much of a boost to total employment. Overall, the average increase in workers per firm was 0.18 workers per firm, besting the stats for January and February which were excellent readings. Those increasing employment added an average of 2.7 workers while those reducing their workforce cut an average of 2.3 positions, seasonally adjusted. Fifty percent reported hiring or trying to hire (down 3 points), but 42 percent (84 percent of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill. Ten percent reported using temporary workers, down 2 points.” This and the comments from Goldman doesn’t bode well for the future of job growth (see the chart above)
The rest of today will focus on setting up from tomorrow’s employment report. The stock market will be closed tomorrow so bets have to be laid today. The bond and mortgage markets will trade until 12:00 tomorrow. There is nothing we can add that our readers don’t already know; we generally don’t like floating into the monthly employment data. 90% of all employment reports are volatile and it is impossible to handicap it with any degree of accuracy. We have accumulated nice gains in floating the last week, frm a trading perspective we will take some of the floats off the table by the end of the day. Yesterday the 10 yr yield hit its first resistance level at 1.86% and this morning at 1.88%.
PRICES @ 10:05 AM
10 yr note: -11/32 (34 bp) 1.89% +3 bp
5 yr note: -4/32 (12 bp) 1.35% +3 bp
2 Yr note: unch 0.54% unch
30 yr bond: -31/32 (97 bp) 2.51% +5 bp
Libor Rates: 1 mo 0.176%; 3 mo 0.270%; 6 mo 0.400%; 1 yr 0.694%
30 yr FNMA 3.0 Apr:@9:30 102.48 -9 bp (+5 bp frm 9:30 yesterday)
15 yr FNMA 3.0 Apr:@9:30 104.97 -2 bp (+10 bp frm 9:30 yesterday)
30 yr GNMA 3.0 Apr:@9:30 103.16 -9 bp (+6 bp frm 9:30 yesterday)
Dollar/Yen: 119.65 -0.11 yen
Dollar/Euro: $1.0896 +$0.0133
Gold: $1202.00 -$6.10
Crude Oil: $48.95 -$1.14
DJIA: 17,803.41 +105.23
NASDAQ: 4899.97 +19.74
S&P 500: 2071.20 +11.51














About Richard Sardella




Richard Sardella has been actively managing and providing services in the mortgage industry for over 23 years. Richard serves on the board of directors as President of Colorado Home Mortgages Inc.













About This Report And Disclosure Information




All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
Regulated by the Division of Real Estate. MLO of record LMB100007700 / NMLS#233568 / CHM NMLS#127716.

The highest compliment we can receive is the referral of your friends, family and business associates.  Thank you for allowing Colorado Home Mortgages to assist with your most important asset and we will always be respectful of your trust.

Dana was amazing and her explanation of all documents and information kept us informed the entire way.  Thanks Dana! - Sarah and Robert

Was very happy to be able to work with Dana again.  Will do so in the future if need arises - Rocky

Outstanding, professional & personal service - Kathleen & Steven about Dana
Great job.  Love Alan!  Very through & low key. - Carri & Thomas

Melinda was/is fantastic!! - Mark

Richard, we closed on our home yesterday.  This is the 2nd time we have used Dana and I would never use anyone else.  I wished I would have elaborated more on the remarks section of the survey but Dana is an incredible one of a kind personality.  She is a lady that knows how to make things happen.  I think I sold her to our realtor and will not be surprised if he uses her.  Not only the fact that we have bought numerous homes over the years do I compare this but also as a past owner of a business and a business women working in the business world.  I truly don't think a lot of folks can compare to Dana. 

Thank you for allowing us to work with her. - Barbara

Rich did an excellent job.  He got my loan approved in 9 days with Christmas in between.  I will definitely recommend him to others!  Thank you Rich - Cindy

Thank you for all your help - Henrietta and Charles about Dana

Rich was WONDERFUL to work with!!! - Karen

Awesome! Thank you for everything. - Jolene about Richard

This was the easiest and most upfront loan process that I have ever gone through.  From start to finish Melinda let me know what I needed and other information.  This was great.  I have recommended her to two people - One is my friend, real estate agent/broker - Janice

Highly recommended - as fine a young man as I ever met!!!! - James about Richard
Really appreciate all of your help Richard.  You are the best.  You have made our first home buying experience great, really appreciate all of your hard work! - Blake and Justin

Great experience overall - Thank you! - Julie about Dana

I enjoyed working with a knowledgeable, accessible and responsive loan officer.  - Ina about Richard

Richard is wonderful!! - Kaci

Alan is the Best! - Travis
Excellent Service!!!  Available weekends, informative and knowledgeable.  Very happy w/ Dana, will send referrals her way! - Mandy and Halil

"Thank you" for having provided such a high quality and knowledgeable loan professional. - Karen about Melinda

Great smooth transaction!  Thank you! - Maya and Vladimir about Bree
Excellent!! Super smooth. - Tom about Alan

This sell was performed under a tight time constraint and Dana (the Great) really stepped up. - Ranie and Clark

Richard, Thank you for all your efforts on behalf of Lindsey's refinance.  It is a pure joy to work with a professional! - Sheryl

Dana was AWESOME!  Always available and guided me through the entire process.  Will recommend her to all my friends and co-workers. - Justin

Richard did a wonderful job! - Paula

Alan is great!  We would never use anybody else! - Amber and Matt

Dana did a truly fantastic job! - Brad

Rich was very helpful in explaining things, very responsive and thorough.  We definitely felt that we were in good hands and well taken care of. - Lindsey & Sheryl

Alan was great to work with.  He made our application very easy & smooth. - Ashley and Dillon

Exception service (about Melinda) - Lee and Leo

I'm very Happy! - Vera and Vern about Melinda

She is an incredibly competent person and we so appreciated her hard work, insight and expertise - Barbara and Boyd about Dana

Dana was fantastic to work with and made the process as stress-free as possible.  We really appreciate all the time and effort she spent to make this process and loan go through. - Lauren and Christopher

Bree is the best!! - Kelly

Rich is excellent - Ashley and Dave

Love Bree! - Beverly and Steven

Amazing.  Thank you so much - Daniel about Dana

Dana did an excellent job for us.  Especially due to some tricky issues that came up.  I would highly recommend her to family & friends - Crystal and Matt

Dana was so very helpful, timely, professional and did everything she said she would do.  Her personality was wonderful and she is very sensitive with a sensitive process like this. - Dawn and Ryan

Great experience working with Rich Sardella - great man! - Ericka and Jim

Fantastic work! She (Dana) found us a great rate! - Margaret & Derek

Dana is an expert in Indian government - Carol

It was excellent service.  I would recommend to others.  They were very helpful. /  Thank you for all your work with my re-financing.  Especially all the work on getting the lien off my property.  It's been a pleasure working with you.  I appreciate all you did.  I will recommend you if I know anybody else looking for refinancing.  Thanks again. - Patricia

Dana was always very helpful.  She was very nice and answer all my questions.  Thank you very much Dana - Ericka

We were referred to Richard about 3 years & This is our second refinance with Richard.

Always prompt, ridiculously detailed.  Thank you Richard. - Jay & Laura

Rich is great!! - Rosie

Dana was phenomenal.  She went out of her way to help me get this loan processed. - Matthew

Dana was wonderful - friendly and took the extra time to answer all my questions & explain things to me. - Stuart

Melinda was great! - Branden

Dana was exceptional! - Denise & Gian

A lot of help. Dana pulled of miracles for us. She is Great. - Julie and Christopher
I've used Rich before, very knowledgeable! - Sarah & Al

Great job & excellent customer service - Carla and Murray about Richard
Ok, you know how I feel about Melinda. Love this company. - Nancy and Charles

I have worked with Rich Sardella at Colorado Home Mortgages on several occasions-refinancing of my previous house 2 times and most recently obtaining a mortgage on my newly built house. I am a real skeptic when working with people where my finances are concerned. I learned very quickly that I could trust Rich's advice and trust him completely. Each time I have worked with him he has been very honest, professional, responsive, and has always looked out for my best interest. In the past I have had some very negative experiences working with mortgage companies and found it refreshing positive to come across this company. I highly recommend Rich and Colorado Home Mortgages.  Carol 

We love Melinda! Ditto!! - LaNee and Luke

Good service and good communication - Ute

Dana is Awesome! - Sherry

Melinda, Thank you for your amazing help! - Teri

Better than excellent! The Best professional ever! Melinda was the absolute #1 Best professional I have ever worked with! Thank you Melinda! We appreciate everything! - Mark

Dana was super great!!! Dealing with her was the easiest and less stressful part of this experience. I would definitely recommend her. - Cindy and William

Very Smooth process! - Cynthia and Fred

(Dana) Took the time to come to my closing - very much appreciated. Dana is the best! I started working with her a year ago April on my previous home for a refi. We didn't do the refi due to lower home value. She stayed in touch every other month and kept me in the loop. Then I ended up buying another home. Her attention to detail is second to none. She made this a very positive experience.

Melinda is fabulous! - Ellen and Nicole

Great job and very professional - Michael

Melinda is top-notch. I highly recommend them. - Christa

(Dana) Just would like to say BIG THANK YOU! for all your help in this transaction, our client is so thankful for this stress free process. We encounter a little bump just before closing and you made sure all was done on time and stress free for Veronica. I really appreciate you working so hard, overtime and even when you were sick. You provide an outstanding service and respond in such a timely manner. I will be happy to continue our relationship and to refer my buyers to you, as I know they will be well taken care for.- Dorie

We wanted to say Thank You so much for all that you did for us and easing the stress of getting a mortgage.  It was great working with you!! - Delia and Robert

Dana was perfect to work with! She did a wonderful job and she really looked out for us. - Amber and Philip

Really enjoyed working with Rich! - Sondra

Outstanding service. They are friends now. I would recommend friends to this company. Thank you. The best experience ever. - Gayl and Sam

Always a pleasure working with you! Here's to many more years helping us with our loan. - Ann and Kurt

She (Dana) was wonderful! Thanks - Steven

Rich was awesome helping us through the process - Scott

Best mortgage experience Ever! - Ivy & Brian

Richard has taken care of all our homeowner loans in CO and he does a great job for us.  We would recommend him (and we do) to others - Deborah & Calvin

Great job - very efficient - Dorothy

Rich gave us great advice to make the best decision possible for us.  Thanks! - Jennifer and Todd

Thank you for referring us to Dana - Fantastic job. Thank you again - Barbara and Louis

Melinda is fabulous - Eric and Brandi from Denver BBB

Richard did an excellent job of informing us & making this a pleasant experience - Pat and Sonny

Dana was absolutely wonderful! She helped us out soo much and was extremely helpful. Dana Kept us informed at all items on what was going on and times. She's great - Beverly & Edward

Great experience working w/ Rich & Colorado Home Mortgages - Melissa and Blake

Richard is such a great help - will continue to use him in the future - Ashley & David

Very informative professional and personal. Pleasure to work with such a knowledgeable and professional officer – Vince

Very happy with ease and efficiency – Carol

Richard handled response to documents by the underwriter on short notice, efficiently; thereby ensuring the loan closed timely – June

Rich has been great to work with and has great product knowledge. He was very prompt and quick to return calls and answer questions – Dan

Very positive experience - Marie

Rich has been wonderful! - Mary

Excellent service beginning to end- Mary & Michael

Very helpful and easy to work with.  Always responded quickly to questions and concerns - Lany

Rich was great & politely persistent - Val & Richard

From beginning to end the refinancing has been a good experience for us - We appreciate Richard's expertise - Ed

Best help ever - LeAnn

I am very pleased with the handling of the refinancing of my house - Ute

Rich did an excellent job for me.  I especially appreciated his keeping in touch with me throughout the entire process.  He is very knowledgeable, pleasant to work with, and I would highly recommend him for financing and refinancing - Beverly

Fantastic experience, well organized, fast and efficient.  Went above & beyond with additional mortgage plans - Lynn

He's (Rich) great - Betty
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