Daily Mortgage Interest Rate Updates, Trends & Projections

Mortgage Rate Update 1-17-14: Trends & Projections

Today's mixed economic data provided little direction for investors this morning. December Housing Starts declined 10% from the 5 year high seen in November to an annual rate of 999K units (which was still above the consensus of 985K units). Building Permits fell short of expectations however. December Industrial Production matched the consensus with a small increase from November. Capacity Utilization increased to 79.2%, the highest level since May 2008. Overall Consumer Sentiment was a bit lower than forecasted.

The net result of the above news was a market opening of approximately 0.125% BETTER to the points/credits associated with each 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 1-17-2014 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 an IMPROVEMENT to pricing. Thursday's IMPROVEMENT netted a change of 6 basis points (bps).

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

San Diego Mortgage Rates - www.GordonMortgage.com

The following chart summarizes todays market activity:

San Diego 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 Mortgage Rates - www.GordonMortgage.com

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

San Diego 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 todays best mortgage rates.

San Diego Mortgage Rates - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

Cpn 3.0 Chg 0.0156 Bid 96.04688
Cpn 3.5 Chg 0.0156 Bid 100.42188
Cpn 4.0 Chg 0.0156 Bid 103.92188
UST 5 YR Chg 0.0313 Bid 99.35938 Yield 1.6350
UST 10 YR Chg -0.0469 Bid 99.17188 Yield 2.8470
UST 30 YR Chg -0.1563 Bid 99.43750 Yield 3.7800
Euro Bid 1.3572 Chg -0.0046
Pound Bid 1.6337 Chg 0.0084
Yen Bid 104.310 Chg -0.040
Light Crude
Last 94.60
Key Economic Data:
Housing starts for Dec: Actual -9.8%, Last 22.7%, revised 23.1%.
Build permits for Dec: Actual -3.0%, Last -2.1%.
Industrial output for Dec 79.2%, Consensus 79.1%, Last 79.0%, Revised 79.1%.
Manuf output for Dec: Actual 0.4%, Consensus 0.3%, Last 0.6%.
6:55: Univ of Mich Prelim for Jan
Sentiment: Consensus 83.5, Last 82.5.
Conditions: Consensus 98.5, Last 98.6.
Expectations: Consensus 74.2, Last 72.1.
1yr Inflation: Last 3.0%.
5yr Inflation: Last 2.7%.
ECRI weekly index: Last 133.4.
Treasury 10-year note yields traded at almost the lowest levels in a month as a report showed housing starts and building permits declined last month, reflecting an uneven economic The difference between the yields on two-year notes and 10-year debt narrowed to the least in almost a month before a report forecast to show industrial production slowed. The Fed is scheduled to buy as much as $3 billion in Treasury notes as part of its debt-purchase program. Treasuries headed for a third weekly gain before Federal Reserve Bank of Richmond President Jeffrey Lacker speaks today. Treasuries have done well as soft patches in economic data suggested growth may not be as strong as some people expected, said Alessandro Giansanti, a senior fixed-income strategist at ING Bank NV in Amsterdam. Yields rose a long way late last year and the market appeared to have some correction which I expect to be temporary. Ten-year yields fell one basis point, or 0.01 percentage point, to 2.83 percent as of 8:33 a.m. New York time, Bloomberg Bond Trader data show. The price of the 2.75 percent note due in November 2023 was 99 10/32. The yield reached 2.82 percent on Jan. 13, the lowest level since Dec. 11. Securities in the Bloomberg U.S. Treasury Bond Index yielded 1.61 percent on average. The figure was 1.46 percent for the Bloomberg Global Developed Sovereign ex-US Bond Index.
My position on MBS
Short term Neutral.
Long term Short

Market Commentary (Dan Rawitch)

Mixed news today. building permits lower but housing starts higher. Michigan sentiment also was worse than expected. The market continues to be in an upward channel. I'd be looking for a continued rise to the top of the channel, based upon our current set of facts. Just be careful, because channels do not always have to touch the top or bottom before reversing themselves.

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 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 - Jason Gordon Mortgage - AmeriFirst Financial - NMLS 259027


Office: 619-200-8031

Email: jgordon@amerifirst.us



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Comment balloon 0 commentsJason E. Gordon • January 17 2014 10:16AM
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