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

Mortgage Rate Update 2-18-14: Trends & Projections

This morning (after a down day on Friday), the Empire State Regional Manufacturing Index came in below expectations. There was little reaction to the data. The DOW is up 10 points. There is no more economic data to be released today.

Pricing has opened 0.125 - 0.250 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 Tuesday 2-18-2014 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 Friday with a WORSENING to pricing. Friday's WORSENING netted a change of 9 basis points (bps).

The market was closed yesterday (Monday) in observance of President's Day.

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

Best Mortgage Rates in San Diego - www.GordonMortgage.com

The following chart summarizes todays market activity:

Best Mortgage Rates in San Diego - www.GordonMortgage.com

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

 Best Mortgage Rates in San Diego - www.GordonMortgage.com

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

Best Mortgage Rates in San Diego - 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.

Best Mortgage Rates in San Diego - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

Cpn 3.0 Chg 0.0156 Bid 96.40625
Cpn 3.5 Chg 0.0469 Bid 100.68750
Cpn 4.0 Chg 0.0313 Bid 104.17188
UST 5 YR Chg 0.0547 Bid 99.94531 Yield 1.5110
UST 10 YR Chg 0.0625 Bid 100.12500 Yield 2.7360
UST 30 YR Chg 0.0469 Bid 98.71875 Yield 3.6950
Euro Bid 1.3766 Chg 0.0059
Pound Bid 1.6718 Chg 0.0005
Yen Bid 102.380 Chg 0.470
Light Crude
Last 101.55
Key Economic Data:
NY Manufacturing for Feb: Actual 4.48, Consensus 9.00, Last 12.51.
Foreign buying of T-bonds for Dec: Actual 17.86b, Last -3.4b, Revised -0.13b .
Overall net capital flow for Dec: Actual -119.6b, Last -16.6b, Revised -13.0b.
7:00: NAHB housing market index for Feb: Last 56.
Treasuries gained as a report showed manufacturing growth slowed more than forecast this month in the New York region. Yields on U.S. 10-year notes fell from almost the highest this month. Treasuries advanced earlier with European government bonds as a report showing German investor confidence declined for a second month in February boosted demand for safety. This is consistent with the mixed economic data weve been receiving, Ian Lyngen, a government-bond strategist at CRT Capital Group LLC in Stamford, Connecticut, said of the U.S. data. While theres no clear indication its weather-related, some of the incoming data have been impacted by the weather. Uncertainty remains high. Ten-year yields fell as much as three basis points, or 0.03 percentage point, to 2.72 percent before trading at 2.73 percent at 8:47 a.m. New York time, down one basis point, according to Bloomberg Bond Trader data. They climbed to 2.78 percent on Feb. 13, the highest level since Jan. 29. The Federal Reserve Bank of New Yorks Empire State manufacturing index fell to a reading of 4.48, from 12.51 in January. Economists surveyed by Bloomberg forecast 8.5 for February.
My position on MBS
Short term Neutral.
Long term Neutral.

Market Commentary (Dan Rawitch)

Huge shocker in the release of the NAHB index. It had the largest single month drop in the history of the Index. Yes, there is a Rough winter element in this number, but analyst factor these things into their forecast. Also the Empire Manufacturing number was a big miss. I continue to expect sideways movement for the next few days. One would hope that todays news will help us test the top of the current trading range, as detailed in my video. If it does not...this will prove to have a bearish effect on the market.

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 interest 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 1 commentJason E. Gordon • February 18 2014 11:03AM
Mortgage Rate Update 2-18-14: Trends & Projections
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We are currently riding a nice trend for mortgage rates, but history has taught us not to take these trends for granted. A big miss on the ISM Manufacturing Data has lifted Mortgage Backed Securities this morning. Construction Spending came in at… more