Colorado Bad Credit Mortgage

Treasury Prices Move Higher

MARKETSCOPE : The weaker than expected second quarter GDP report was driving bonds higher on Friday, on the perception the Fed will notraise rates at its Aug. 8 meeting, notes Roger Volz of Swiss American in New York. The 10-year Treasury yield fell to 5.00% on belief the GDP slowdown to 2.5% from 5.6% overshadows the fact the price index rose at a 3.3% pace, the sameas in the first quarter, which was revised from 3.1%, and the core PCE deflator rose 2.9%, up from 2.1% in Q1, which revised from 2.0%. Traders were also ignoring a report the Q2 ECI rose 0.9%. .

Local card use up, so is ensuing debt

Credit card companies are making it harder to turn down the call to spend now and pay later. But local debt management experts say it's more critical than ever to wisely flash your plastic.

That's because more factors are coming into play, officials at Catholic Charities and Consumer Credit Counseling Service-Pueblo say.

Gasoline prices are rising and volatile.

Aquila electric utility and Xcel natural gas utility have told officials at Catholic Charities that they likely soon will begin to penalize customers who pay their bills late, said Peggy Meservey, the agency's money management bookkeeper.

A critical time period in which Puebloans could come up short on money is approaching - the beginning of a new school year and the Colorado State Fair, according to Meservey.

Record foreclosure pace

More than 9,500 real estate foreclosures have been filed in the Denver area in the first half of the year, about 34 percent more than in the first six months of 2005.

It's on pace to be the worst year ever in terms of the number of foreclosures, topping 17,122 in 1988, though the area's population growth since then means the total percentage of homes in foreclosure is smaller.

Experts are concerned about the number of people in danger of losing their homes because of the impact on a local economy that is otherwise showing strength by most measures.

"I do believe there is a crisis," said Peter Lansing, president of Universal Lending, who served on a foreclosure task force during the late 1980s. "We do need to do something about it. It is all of our responsibility."

He said lenders, consumers, real estate agents and home builders all share blame.

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