Are you currently applying for a mortgage loan and seeking the best mortgage rates? The logical first step in the process is to inform yourself of the facts by reading THE TRUTH BEHIND MORTGAGE QUOTES. Below is a daily market report to help you better understand the direction rates are moving.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Friday 4-27-2012 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 Thursday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's WORSENING resulted in a change of 6 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the market activity for today:
The following chart shows market activity over the past 10 days (hint: green is good, red is bad):
The following chart shows market activity over the past 1 month:
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.
Analyst: Neil Trenerry
3.0 Coupon: Previous Close 100.781 Open 100.688 Change -0.094
3.5 Coupon: Previous Close 103.625 Open 103.625 Change 0.000
4.0 Coupon: Previous Close 105.625 Open 105.625 Change 0.000
5 Year: Previous Close 100.172 Open 100.195 Change 0.023 Yield 0.835
10 Year: Previous Close 100.344 Open 100.453 Change 0.094 Yield 1.951
30 Year: Previous Close 99.781 Open 100.000 Change 0.219 Yield 3.125
Key Economic Data:
EUR/USD: Previous Close 1.3187 Open 1.3255 Change 0.0068
GBP/USD: Previous Close 1.6177 Open 1.6247 Change 0.0070
USD/JPY: Previous Close 81.030 Open 80.540 Change -0.4900
Gold: Previous Close 1659.60 Open 1662.70 Change 3.10
Oil: Previous Close 104.55 Open 104.63 Change 0.08
Key Economic News:
GDP for Q1
Index: Actual 2.2%, Consensus 2.5%, Last 3.0%.
PCE prices: Actual 2.4%, Consensus 2.3%, Last 1.2%.
Core PCE prices: Actual 2.1%, Consensus 2.1%, Last 1.3%.
Consumer spending: Actual 2.9%, Last 2.1%.
Employment wages: Actual 0.5%, Last 0.3%.
Employment costs: Actual 0.4%, Consensus 0.5%, Last 0.5%.
6:55: Univ of Michigan for Apr
Sentiment: Consensus 75.7, Last 75.7.
Expectation: Consensus 72.5, Last 72.5.
1yr Inflation: Last 3.4%
5yr Inflation: Last 3.0%.
7:30: ECRI weekly index: Last 123.9.
With GDP slipping and Univ of Michigan expected to be flat. We could see a small improvement thru the day.
My position on MBS stays neutral.
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.jasongordon.net or www.ApprovingSD.com or more information.
Click here for daily mortgage interest rate updates and projections for San Diego's lowest 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
CMPS, RCS-D, CDPE, CMHS, CMC, NMLS 259027
11260 El Camino Real, Ste. 100, San Diego, CA 92130
What People Are Saying About Jason Gordon
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