Daily Mortgage Interest Rate Updates, Trends & Projections

Mortgage Rate Update 9-15-14: Trends & Projections

Weaker than expected economic data has lifted Mortgage Backed Securities slightly this morning. August Industrial Production declined 0.1% from July, below the consensus for an increase of 0.3%. This report far offsets the strong Empire State Regional Manufacturing Index, which rose to 27.5%, far above the consensus of 16%.

Compared to Friday's closing, the market has opened roughly the same for the Points/Credits associated with any given interest rate option.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals 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 Monday 9-15-2014 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 Friday with a WORSENING to pricing. Friday's  WORSENING netted a change of 19 basis points (bps).

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

Best Mortgage Rates in San Diego - www.GordonMortgage.com

The following chart summarizes todays market activity:

Best Mortgage Rates in San Diego - www.GordonMortgage.com

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

 Best Mortgage Rates in San Diego - www.GordonMortgage.com

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

Best Mortgage Rates in San Diego - www.GordonMortgage.com

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 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.

Best Mortgage Rates in San Diego - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

FNMA - Month Aug

Cpn 3.0 Chg 0.1250 Bid 97.73438

Cpn 3.5 Chg 0.0938 Bid 101.56250

Cpn 4.0 Chg 0.0781 Bid 104.92188

 

Treasury

UST 5 YR Chg 0.0547 Bid 99.14844 Yield 1.8050

UST 10 YR Chg 0.1094 Bid 98.07813 Yield 2.5960

UST 30 YR Chg 0.2344 Bid 96.12500 Yield 3.3310

 

Currency

Euro Bid 1.2917 Chg -0.0047

Pound Bid 1.6232 Chg -0.0034

Yen Bid 107.220 Chg -0.100

Light Crude

Last 91.46

 

Key Economic Data:

NY Fed Manufacturing for Sep: Actual 27.54, Consensus 16.00, Last 14.69.

Industrial Output for Aug: Actual -0.1%, Consensus 0.3%, last 0.4%.

Capacity Utilization for Aug: Actual 78.8%, Consensus 79.3%, last 79.2%.

Manufacturing Output for Aug: Actual -0.4%, Consensus 0.3%, last 1.0%.

 

Advice:

Treasury 10-year note yields touched the highest level in two months amid speculation the Federal Reserve will delete reference to interest rates staying low for a considerable time when it meets this week. The difference between yields on two-year notes and 10-year debt, the yield curve, reached the most since Aug. 1. Theres a 59 percent chance the central bank will increase its benchmark rate by July 2015, versus 51 percent at the end of August, Federal fund futures show. A report today showed manufacturing in the New York region rose more than forecast in September. The market is braced for a hawkish Fed, said Richard McGuire, a fixed-income strategist at Rabobank International in London. This shift is in the price, so the hurdle for the Fed

surprising the market is not insignificant. The yield on Treasury 10-year securities fell two basis points, or 0.02 percentage point, to 2.59 percent as of 8:46 a.m. New York time, according to Bloomberg Bond Trader data. The yield touched 2.62 percent, the highest since July 7 after climbing 15 basis points last week, the biggest five-day increase since the period ended Aug. 16, 2013. The New York Fed Bank of New York index of general business conditions rose to 27.54 from 14.69 in August, and versus an

estimate of 15.95 in a Bloomberg survey..

 

My position on MBS:

 

Short term changes to Neutral

Long term stays Short.

 

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

Market Commentary (Dan Rawitch)

 
The market is still seeing more selling than buying. Today's economic news was mixed, but the treasury market did show a somewhat positive reaction. I would expect the current low of the day to become support and that we will build back toward 102.00, which most likely will provide some meaningful resistance. Until an external factor appears, look for a range of 101.40 to 102.00. 

 

Trusted Industry Advisor

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

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E 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.

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, CMC, NMLS 259027

AmeriFirst Financial, San Diego Residential Mortgage Specialist, Jason E Gordon

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

Attention Real Estate Agents!

(click the video below to learn about my "Preferred Realtor Partner" marketing technology)

 

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.

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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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0 commentsJason E. Gordon • September 15 2014 10:26AM
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