Daily Mortgage Interest Rate Updates, Trends & Projections: November 2011

Mortgage Rate Update 11-29-11: Trends, Projections & Today's Best Rates

What are California's best mortgage rates? What can we expect from mortgage rates for the remainder of this month? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why).

Mortgage Street Smarts - Daily interest rate updates, daily mortgage rate projections, mortgage quotes, featuring todays best mortgage rates. Provided by San Diego Residential Mortgage Specialist Jason E Gordon, CMPS, Direct Lender, Mortgage Broker, San Diego, CA. Visit www.MortgageStreetSmarts.com for free online mortgage calculator, no hassle mortgage quote, and secure online mortgage loan application.

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

The following information is current as of Tuesday 11-29-2011 and will help you understand todays 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 Monday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's IMPROVEMENT resulted in a change of 52 basis points (bps).

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows the market activity for today (hint: upward activity is good, downward activity is bad):

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.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.

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary

Analyst #1: Neil Trenerry

 

FNMA 30-Yr 3.5%

Previous close 101.875

Opened Down 0.125 @ 101.750

 

 

Key Economic Data:

UST 2 YR 0.26  Up  0.00

UST 5 YR  0.95  Up 0.03

UST 10 YR  2.01 Up  0.04

UST 30 YR  2.96  Up  0.03

 

EUR / USD   1.3314  Down  0.0006
USD / JPY  77.8500  Up  0.1300
GBP / USD  1.5602  Up  0.0092

Oil   98.56   Up   0.35

Gold   1,711.70  Down   2.80

 


Key Economic News:

 

House prices, consumer confidence and comments from several Fed officials:

 

9:00: S&P/Case-Shiller home price index (September):

Consensus: -0.1%; Last -0.1%.

 

10:00: Conference Board confidence index (November): Improvement. Household attitudes appear to have improved in November, based on the University of Michigan’s index of consumer sentiment, as well as daily measures of confidence we track. We therefore forecast an increase in the Conference’s Board’s confidence index to 44.0 from 39.8 previously.

Consensus: 44.0; Last: 39.8.

 

10:00: FHFA House Price Index (September): Another decline? This index—which tracks the purchase price of homes with agency-conforming mortgages—has weakened over the last few months. Consensus forecasts expect another decline for September.

Consensus: -0.1%; Last -0.1%.

 

11:30: Federal Reserve Vice Chair Janet Yellen on the global recovery at the San Francisco Fed’s Asia Economic Policy Conference.

 

12:15: Federal Reserve Governor Sarah Bloom Raskin moderates panel at Fed conference. 

 

12:27: Atlanta Fed President Dennis Lockhart on the economy.

 

16:30: San Francisco Fed President John Williams speaks to reporters at Fed conference.

 

19:00: Minneapolis Fed President Narayana Kocherlakota speaks to reporters before speech at Stanford. His formal remarks—titled “Making Monetary Policy”—will follow at 20:00.

 

  

Advice:

 

Depending on how much the Conference Board improves by could reverse yesterday’s gains. Otherwise I would expect the market to continue to improve.

 

My position on MBS stays neutral.

Analyst #2: Dan Rawitch

Here is the link to our daily video: http://ratewatch.com/ratewatchnow.html

WTH…on Consumer Confidence!  I did not see that one coming, nor did most economist.  As time permits today, I will dig into that number and report back to you.   Something seems crazy.

We also have Case Shiller down and FHFA up, American Airlines files BK and yields climbing in both Germany and Italy.

All in all, a very unstable and difficult to understand market place.  I’d expect a fairly narrow trading range, until we get more news and sense of direction as the week goes on.

Trusted Industry Advisor

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

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

 

What People Are Saying About Jason Gordon

 Not all Mortgage Lenders are alike! Find out what Clients, Real Estate Agents and other Financial & Legal Professionals have to say about Jason Gordon.

 

 

Attention Real Estate Agents!

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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. 

 

CLICK HERE TO READ CLIENT & REALTOR TESTIMONIALS

 

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Comment balloon 1 commentJason E. Gordon • November 29 2011 11:42AM
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