Daily Mortgage Interest Rate Updates, Trends & Projections

Mortgage Rate Update 10-10-14: Trends & Projections

Mortgage Backed Securities have drifted down this morning. Import Prices dropped 0.5% in September, while the consensus was for a decline of 0.8%. No further economic data will be released

Pricing has opened 0.125 - 0.250 WORSE to the points/credits associated with each 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 Friday 10-10-2014 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 9 basis points (bps).

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

San Diego Lowest Mortgage Rates - www.GordonMortgage.com

The following chart summarizes todays market activity:

San Diego Lowest Mortgage Rates - www.GordonMortgage.com

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

San Diego Lowest Mortgage Rates - www.GordonMortgage.com

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

San Diego Lowest Mortgage Rates - 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 today's best mortgage rates.

San Diego Lowest Mortgage Rates - www.GordonMortgage.com














Market Commentary (Neil Trenerry)

FNMA - Month Aug
Cpn 3.0 Chg 0.0156 Bid 99.48375
Cpn 3.5 Chg 0.0000 Bid 103.12500
Cpn 4.0 Chg 0.0000 Bid 105.93750

UST 5 YR Chg 0.0156 Bid 100.87500 Yield 1.5660
UST 10 YR Chg 0.1250 Bid 100.54688 Yield 2.3120
UST 30 YR Chg 0.3750 Bid 101.53125 Yield 3.0460

Euro Bid 1.2644 Chg -0.0046
Pound Bid 1.6036 Chg -0.0082
Yen Bid 107.860 Chg 0.030
Light Crude
Last 84.80

Key Economic Data:
Import Prices for Sep: Actual -0.5%, Consensus -0.7%, Last -0.9%.
Export Prices for Sep: Actual -0.2%, Consensus -0.1%, Last -0.5%.
7:30: ECRI Weekly Index: Last 134.6.
11:00: Federal Budget for Sep: Consensus 80.9b, Last -129.0b.

Treasuries rose for a fifth day as investors awaited clues on the probable timing of Federal Reserve interest-rate increases in policy-maker speeches today. Yields on two-year notes headed for the steepest weekly decline since 2010 and those on 10-year securities were set to fall for a fourth week. Bonds are rallying as investors pare expectations for higher interest rates after the Fed this week highlighted risks to the U.S. economy. Philadelphia Fed Bank President Charles Plosser is due to speak today, as are his colleagues Esther George, Richard Fisher and Jeffrey Lacker. We've seen a very strong rally in Treasuries over the past weeks, said Nick Stamenkovic, a fixed-income strategist at broker RIA Capital Markets Ltd. in Edinburgh. Rate expectations have been pushed out. The benchmark 10-year yield declined two basis points, or 0.02 percentage point, to 2.30 percent at 7:06 a.m. New York time, according to Bloomberg Bond Trader data. It touched 2.28 percent yesterday, the lowest in more than 15 months, and has dropped 14 basis points since Oct. 3. The 2.375 percent notes due in August 2024 rose 5/32, or $1.56 per $1,000 face amount, to 100 22/32. The U.S. two-year yield was little changed at 0.44 percent. The rate has declined 12 basis points this week, the most since the period ended May 7, 2010. A number of U.S. central bank officials said the nations expansion might be slower than they expected if foreign economic growth came in weaker than anticipated, according to minutes of the Sept. 16-17 Federal Open Market Committee meeting released on Oct. 8 in Washington.

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

Market Commentary (Dan Rawitch)

No Real News today..it is worth noting that the german 10year just hit an all time Low at .84%. The gap down opening was caused by this mornings bond rollover, so if we add back the 40 bps lost from the rollover, we are still right at the top of the trading range, and I continue to believe we will need to see a correction soon, so locking is a good idea, unless you feel lucky.


Have a great day!


Market Commentary (Bill Fisher)

Here is the link to watch the video version of this segment:

Rachel Norvell, writing in MPA (Mortgage Professional America), shared some of the rather widely known success secrets of a guy who originated $136,600,000 in home mortgages last year. Let's look at what he's up to.

Rodney Anderson has a position in a company called Supreme Lending, located in Plano, Texas. Now, Rodney doesn't seem to be a terribly flashy guy. In fact, he holds to some relatively traditional and simple principles in his business. And Plano, with a population approaching 270,000,making it the ninth largest city in Texas in population,doesn't seem to be the most active real estate market in the nation, though it is home to many corporate headquarters, and CNN Money magazine,in 2005, 2006, and 2011,said it was the best place to live in the western United States. A suburb of Dallas, it's considered a very safe place to live in many polls (see, for example, the rankings in Forbes) and its schools consistently produce bumper crops of college students.

So,if it's that good of a place to live and it hosts a lot of corporations (like Fritolay and JC Penney), the chances are good that the real estate business there tends to thrive. But this is not to say that the way to succeed in mortgage financing is simply to find a prospering large city. It is to say that, as a mortgage loan officere, Rodney Anderson has his priorities very straight.

"I look at our business as a one where we need to have a relationship with customers," he saysand he's certainly not the first successful mortgage guy to say these words. "I've gained so much business by telling people when it's not worth it and people keep coming back again and again," he adds, putting in a good word for honesty and trustworthiness.

His secrets? For one thing, speed. "One of the things that makes [our company] successful at this is that everything is done in one office on one floor in one building," he says. "We sell our speed. Where most lenders are able to close in 30, 45 or even 60 days, we can close our loans much more quickly." Anderson says his average turnaround time is 16.8 days.

For another, he educates his clients: "Anderson prides himself as a mortgage banker who educates his clients and is focused on helping people get out of financial disaster." Everything is on the table, as fully understood as possible, in an Anderson transaction.

For another thing,which he ranks extremely important,he invests in his business. "'The number one mistake that a mortgage banker can do is not tithe to their business, and you can do that through marketing.' He says he has spent around $1.5 million on advertising, direct mail and investing back into [his company] Supreme Lending. He also sends around 40,000 mailings a month to past clients."

The mailing campaign alone shows that Anderson is fully committed to making his business continually grow.

But the bottom line isn't how much money he's making from his many clients. "At the end of the day," he says, "it's not about how much money you're making, but how many people you are helping."

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) and Certified Mortgage Coach (CMC), 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.ApprovingSD.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

Branch Manager | Sr. Mortgage Loan Officer



Gordon Mortgage Group - AmeriFirst Financial Inc.


Office: 619-200-8031

Email: jgordon@amerifirst.us



11440 W. Bernardo Court, Ste. 300, San Diego, CA 92127


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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 1 commentJason E. Gordon • October 10 2014 08:14AM
Mortgage Rate Update 10-10-14: Trends & Projections
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