Daily Mortgage Interest Rate Updates, Trends & Projections

Mortgage Rate Update 7-11-14: Trends & Projections

Amidst banking problems in Portugal and violence in Israel, investors are again favoring safer assets this morning.  

The market has opened roughly 0.125 BETTER 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 Friday 7-11-2014 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 Thursday with a WORSENING to pricing. Thursday's WORSENING netted a change of 12 basis points (bps).

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

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

The following chart summarizes todays market activity:

Lowest 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):

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

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

Lowest 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.

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

Market Commentary (Neil Trenerry)

FNMA - Month Aug
Cpn 3.0 Chg 0.1094 Bid 98.40625
Cpn 3.5 Chg 0.0781 Bid 102.34375
Cpn 4.0 Chg 0.0781 Bid 105.59375

Treasury
UST 5 YR Chg 0.0391 Bid 99.90625 Yield 1.6450
UST 10 YR Chg 0.1094 Bid 99.78125 Yield 2.5250
UST 30 YR Chg 0.3750 Bid 100.45313 Yield 3.3510

Currency
Euro Bid 1.3596 Chg -0.0014
Pound Bid 1.7110 Chg -0.0021
Yen Bid 101.330 Chg 0.020
Light Crude
Last 102.19

Key Economic Data:
7:30: ECRI Weekly Index: Last 135.3.
11:00: Federal Budget for Jun: Consensus 80.0b, Last -130.0b.

Advice:
Treasuries headed for their biggest weekly gain in almost four months as resurgent financial stress in Europe spurred demand for the relative safety of U.S. debt. Benchmark 10-year yields dropped to a five-week low yesterday amid concern Banco Espirito Santo SA, Portugals second-biggest lender, would become embroiled in the financial woes of a parent company. U.S. notes were little changed today as the Portuguese bank sought to reassure investors by revealing its exposure to related companies after a missed payment on
short-term debt by a member of the banking group. Portuguese 10-year bonds rose after the biggest two-day rout in a year. With disappointments from Europe, youve built into the current price structure that Europes not doing very well, said Jim Vogel, head of agency-debt research at FTN Financial in Memphis, Tennessee. We now need at least a couple of more weeks to make sure Europes not going to disappoint further. That will keep the long end of the Treasury curve in a lower range than it would be otherwise.
The 10-year yield fell two basis points, or 0.02 percentage point, to 2.52 percent as of 8:38 a.m. New York time, according to Bloomberg Bond Trader prices. The price of the 2.5 percent note due in May 2024 was 99 26/32.

My position on MBS:

Short term stays 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)

When I recorded earlier, I did not realize we had a rollover. Sorry for not commenting on that. However, it has no effect on the trendline or trading range, just disregard my comment about the Gap Down. The trend has turned bullish, and the trading range has expanded slightly, I'm still seeing sideways overall movement with a bullish bias. No other news to talk about this morning.
 

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

 

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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 • July 11 2014 10:32AM
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