Daily Mortgage Interest Rate Updates, Trends & Projections: January 2014

Mortgage Rate Update 1-30-14: Trends & Projections

This morning, fourth quarter GDP dropped from a strong 4.1% in the third quarter to 3.2%, which was above the consensus of 3.0%. Weekly Jobless Claims rose to 348K, above the consensus of 325K. Pending Home Sales Index came in well short of expectations. The reaction to today's data was small, but negative. The Dow is up 85 points. 

As a result of the above economic activity, pricing has opened 0.125 WORSE 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 Thursday 1-30-2014 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 Wednesday with an IMPROVEMENT to pricing. Wednesday's IMPROVEMENT netted a change of 15 basis points (bps).

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

San Diego Mortgage Interest Rates - www.GordonMortgage.com

The following chart summarizes todays market activity:

San Diego Mortgage Interest 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 Interest Rates - www.GordonMortgage.com

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

San Diego Mortgage Interest 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 Interest Rates - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

Cpn 3.0 Chg -0.2656 Bid 96.60938
Cpn 3.5 Chg -0.2188 Bid 100.96875
Cpn 4.0 Chg -0.1563 Bid 104.42188


UST 5 YR Chg -0.1953 Bid 99.80469 Yield 1.5410
UST 10 YR Chg -0.3750 Bid 100.26563 Yield 2.7190
UST 30 YR Chg -0.5781 Bid 101.81250 Yield 3.6490


Euro Bid 1.3580 Chg -0.0083
Pound Bid 1.6513 Chg -0.0046
Yen Bid 102.740 Chg 0.460
Light Crude
Last 98.19


Key Economic Data:
GDP Advance for Q4
Index: Actual 3.2%, Consensus 3.2%, Last 4.1%.
Sale: Actual 2.8%, Consensus 3.9%, Last 2.5%.
Consumer spending: Actual 3.3%, Last 2.0%.
Deflator: Actual 1.3%, Consensus 1.3%, Last 2.0%.
Core PCE prices: Actual 1.1%, Consensus 1.1%, Last 1.4%.
PCE Prices: Actual 0.7%, Consensus 0.7%, Last 1.9%.


Initial jobless claims: Actual 348k, Consensus 330k, Last 326k, Revised 329k.
Jobless claims 4-wk avg: Actual 333.00k, Last 331.50k, Revised 332.25k.
Continued jobless claims: Actual 2.991m, Consensus 3.020m, Last 3.056m, Revised 3.007m.
7:00: Pending homes for Dec: Last 101.7.


Treasuries declined, with 10-year yields climbing from a two-month low, before the U.S. auctions $64 billion of debt at sales, the first time it will conduct two fixed-coupon debt sales in a single day since October 2008. U.S. debt extended losses after a report showed the economy expanded at a 3.2 percent pace in the fourth quarter as Americans spending climbed the most in three years, laying the ground for further improvement in 2014. Treasury notes snapped an advance from yesterday, when a slide in emerging-market assets boosted demand for the safest fixed-income securities and the Federal Open Market Committee reduced monthly bond purchases to $65 billion from $75 billion. Supply will dominate the theme, said Sean Murphy, a trader at Societe Generale SA in New York, one of 21 primary dealers that trade with the Fed. The main focus will be the $64 billion in supply. The benchmark 10-year yield rose three basis points, or 0.03 percentage point, to 2.71 percent at 8:41 a.m. New York time, according to Bloomberg Bond Trader prices. The 2.75 percent note due November 2023 slipped 9/32, or $2.81 per $1,000 face amount, to 100 11/32. The yield dropped seven basis points yesterday, and touched 2.66 percent, the least since Nov. 19.


My position on MBS
Short term Neutral.
Long term Short.

Market Commentary (Dan Rawitch)

Interesting news today. Pending home sales tanked and Jobless Claims spiked. GDP came in a tad better than expected but no where nearly as strong as last month. Pending Home sales is a leading indicator and GDP is a lagging indicator, this tells us we are not out of the woods.


We tested and failed at the top for the third time, this is concerning. Today's news has held us in the channel thus far, but becareful. Should the Dow spark a comeback rally, bonds may pierce the bottom and tank.


PS: Please watch the video and pay close attention to the picutures of Jeremy Forcier, aka Warren. I am worried that Jeremy is reverting back to his alter ego Warren. Please help!


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



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


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Comment balloon 0 commentsJason E. Gordon • January 30 2014 10:48AM
Mortgage Rate Update 1-30-14: Trends & Projections
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