Daily Mortgage Interest Rate Updates, Trends & Projections

Mortgage Rate Update 4-21-2016: Trends & Projections

Jason Gordon Mortgage - San Diego, CA

 

The ECB made no changes in rates or its other stimulus programs, disappointing some investors who had hoped for more stimulus. ECB President Draghi said that the ECB is ready to add stimulus as needed to ensure that the inflation rate rises to the target level.

Compared to Friday's closing, the market has opened with a 0.125  worsening to the Points/Credits associated with any given interest rate option.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Professionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back over 2 years at www.JasonGordon.info whenever desired.  To make things easier, I have also posted a quick report on How To Read The Charts Below.

Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with THE TRUTH BEHIND MORTGAGE QUOTES (to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns). Remember, we all make better decisions in life when we have the actual facts to analyze...share this report with those whom you care about!

San Diego Mortgage Rates - Jason Gordon - www.JasonGordonMortgage.com

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Thursday 4-21-2016 and will help you understand today's best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.

The market closed Wednesday with a  WORSENING to pricing. Wednesday's WORSENING netted a change of 24 basis points (bps).

(Note: Upward activity on these charts is GOOD, downward activity is BAD)

Jason Gordon Mortgage - San Diego, CA

The following chart summarizes today's market activity:

Jason Gordon Mortgage - San Diego, CA

The following chart shows market activity over the past 10 days (hint: green is good, red is bad)

Jason Gordon Mortgage - San Diego, CA

The following chart shows market activity over the past 1 month:

Jason Gordon Mortgage - San Diego, CA

Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications).

NOTE: This Lender has quoted a scenario involving a 740+ credit score, 25% down payment, owner occupied, single family residence, with impound account, with a loan amount up to $417,000 to accompany this pricing.

It bears noting that this chart does not necessarily represent today's best mortgage rates.

 Jason Gordon Mortgage - San Diego, CA

Beware of relying on Interest Rate Quotes like the one above!  

CLICK HERE TO READ ABOUT THE TRUTH BEHIND MORTGAGE QUOTES

 

Market Commentary (Neil Trennery)

Market Update
FNMA in 32s
Cpn 2.5 Chg -0.01+ Bid 99.20
Cpn 3.0 Chg 0.00+ Bid 102.18
Cpn 3.5 Chg 0.01+ Bid 104.25+
Cpn 4.0 Chg 0.00+ Bid 106.261
Treasury in 32s
UST 5 YR Chg -0.004 Bid 99.310 Yield 1.2549
UST 10 YR Chg 0.002 Bid 98.190 Yield 1.7809
UST 30 YR Chg 0.012 Bid 98.046 Yield 2.5888

Bank Rates
Discount 1.00%
Fed Funds 0.50%
Prime 3.50%

Currency
Euro Bid 1.13646
Pound Bid 1.43857
Yen Bid 109.330

News:
7:00: Existing Home sales for Mar: Consensus 5.30M, Last 5.08M.

Advice:
Benchmark 10-year Treasury yields may tumble to a never-before-seen 1.25 percent as investors seek alternatives to lower interest rates around the world, according to Prudential Financial Inc. Treasuries rose on Wednesday as demand for the safest
assets was fed by a decline in stocks and oil, as well as renewed investor concern about China. While the yield on 10-year Treasuries was less than half a percentage point from its record low reached in 2012, the securities offered a yield pick-up of
160 basis points over similar-maturity German bonds and about 188 basis points over Japanese government debt. Were going to be low and range-bound, said Robert Tipp, the head of global bonds and foreign exchange for the fixed-income divisionof Prudential, the second-largest U.S. life insurer. This is an extremely low-interest-rate world. The higher-yielding products are going to be dominating, he said on Bloomberg Television. Ten-year yields will be in a range of 1.5 percent to 2
percent for most of the remainder of 2016, said Tipp, who is based in Newark, New Jersey. A decline to 1.25 percent would be the bottom end of the range, he said, breaking the previous low of 1.379 percent set in 2012. The yield was 1.75 percent
Wednesday. Pacific Investment Management Co. saidit likes Treasuries compared with lower-yielding AAA sovereign bonds. Germanys 10-year bond, which carries the top rating, yields 0.16 percent. In Japan, which has a lower rank, the 40-year yield dropped to a record 0.3 percent.

My position on MBS:

Short term Stays Neutral.
Long term Stays Neutral.

Long = I anticipate pricing to improve which leads to lower Rates.
Neutral = Market should stay close to open plus or minimums 25bps.
Short = I anticipate pricing to weaken which leads to higher Rates.

Short term = 1 - 2 days out
Long term = 30+ days out 
 
 

2016 Economic Forecast (Barry Habib)

  
 

Trusted Industry Advisor

Jason Gordon Mortgage - www.GordonMortgage.com

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity. All Market Commentary is provided via The Mortgage Coach and/or their RateWatch technology software and/or The TBWS Group.

As a Certified Mortgage Planning Specialist (CMPS) Certified Distressed Property Expert (CDPE) Certified Mortgage Coach (CMC), and Certified Military Housing Specialist (CMHS), Jason E Gordon utilizes his advanced training to examine a prospective Client's complete financial picture, while carefully listening to their overall goals. If it is mutually agreed that a new loan makes sense to pursue, Jason strives to make the entire loan process as seamless as possible. He truly believes that providing open communication and patient educational guidance to his Clients and Business Alliances has been a pivotal component to building his business, while enhancing his reputation in the Mortgage Industry as a Trusted Advisor. Visit www.GordonMortgage.com or www.CrossApproval.com or more information.

Click here for daily mortgage interest rate updates and projections for San Diego's best mortgage interest rates

For more information on topics like this, please feel free to visit www.GordonMortgage.com (an educational resource for Borrowers, Real Estate Agents, and Financial Professionals). Educational content provided by:

 

Jason E. Gordon

Sr. Mortgage Loan Officer

CMPS, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

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Recommended Links:

 

To see if you qualify (and to obtain a current market interest rate quote), click here for a secure online loan application form.

 

Gordon Mortgage Group - AmeriFirst Financial

 

Licensed by the Department of Corporations under the California Residential Mortgage Lending Act.

AmeriFirst Financial Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS #145368) Toll free phone (877) 276-1974. Copyright 2012. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations may apply. AmeriFirst Financial is required to disclose the following licensing information. Please click here for licensing information. 

 

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Comment balloon 0 commentsJason E. Gordon • April 21 2016 11:39AM
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