Daily Mortgage Interest Rate Updates, Trends & Projections: July 2013

Mortgage Rate Update 7-30-13: Trends Projections & Today's Best Rates

Mixed news this morning creates speculation over the direction interest rates will trend today. On a "good news for rates" perspective, Consumer Confidence has come in slightly lower than anticipated.  On a "bad news for rates" perspective however, the Case Shiller Index numbers came in favorably.

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!

Jason E. Gordon - Mortgage Rate Update - www.jasongordon.net

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

The following information is current as of Tuesday 7-30-2013 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 Monday with an IMPROVEMENT to pricing.  Monday's IMPROVEMENT netted a change of 3 basis points (bps).

(hint: upward activity is good, downward activity is bad)

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

The following chart shows the activity thus far for today:

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

Market Commentary (Neil Trennery)

 

FNMA 30-Year:
2.5 Coupon: Open 92.4531 Change 0.2031
3.0 Coupon: Open 97.0156 Change 0.1406
3.5 Coupon: Open 100.8750 Change 0.0938
4.0 Coupon: Open 103.8750 Change 0.0781
 
Treasuries:
5 Year: Open 99.9844 Change 0.0234 Yield 1.3780
10 Year: Open 92.8125 Change 0.1094 Yield 2.5850
30 Year: Open 85.9688 Change 0.3281 Yield 3.6510
 
Key Economic Data
EUR/USD: Open 1.3290 Change 0.0030
GBP/USD: Open 1.5315 Change -0.0023
USD/JPY: Open 97.970 Change 0.030
Oil: Open 103.83
 
Key Economic Data:
ICSC chain stories
Week-on-week: Actual -1.6%, Last 1.4%.
Year-on-year: Actual 2.2%, Last 2.1%.
Redbook
Month-on-month: Actual 0.8%, Last 0.9%.
Year-on-year: Actual 2.9%, Last 3.3%.
CaseShiler for May
20 mm SA: Actual 1.0%, Consensus 1.5%, Last 1.7%.
20 mm NSA: Actual 2.4%, Consensus 2.3%, Last 2.5%.
20 yy: Actual 12.2%, Consensus 12.4%, Last 12.1%.
7:00: Consumer confidence for Jul: Consensus 81.4, Last 81.4.
7:30: Texa sev sect outlook for Jul: Last 12,2.
7:30: Dallas Fed services reve for Jul: Last 6.8.
 
Advice:
Treasuries rose, trimming a third monthly decline, as economists said an industry report today
will show consumer confidence worsened this month, boosting demand for the safest securities.
 
My position on MBS changes to Neutral.

Market Commentary (Dan Rawitch)

 
Consumer confidence slipped a little but Case Shiller came in better than expected. Trading was quiet yesterday and is off to a quiet start. It appears we are trying to establish a trading range, with 100.90 being the top. That resistance is coming from a prior gap that never closed. A move above that and a close at 101+, should carry us up to test the previous highs.

Trusted Industry Advisor

San Diego Residential Mortgage Specialist Jason E Gordon

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.jasongordon.net 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

CMPS,  RCS-D, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

11260 El Camino Real, Ste. 100, San Diego, CA 92130

 

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.

 

 

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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. 

 

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Comment balloon 0 commentsJason E. Gordon • July 30 2013 08:16AM
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