Daily Mortgage Interest Rate Updates, Trends & Projections: April 2015

Mortgage Rate Update 4-21-2015: Trends & Projections

Another quiet day with respect to the release of economic reports.  Recent trends have been fairly flat despite small ripples in either direction as of late.

Compared to yesterday's closing, the market has opened with a 0.125 worsening to the Points/Credits associated with any given 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 4-7-2015 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 a WORSENING to pricing. Monday's WORSENING netted a change of 3 basis points (bps).

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

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The following chart summarizes todays market activity:

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

Gordon Mortgage Group - San Diego - www.GordonMortgage.com

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

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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.

Gordon Mortgage Group - San Diego - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

Market Update
Cpn 2.5 Chg -0.0156 Bid 99.37500
Cpn 3.0 Chg -0.0156 Bid 102.50000
Cpn 3.5 Chg -0.0156 Bid 105.15625
Cpn 4.0 Chg -0.0156 Bid 106.84375
FNMA Cpn 3.0 Forward Delivery over current Month pricing
1 Month Chg 0.0000 Bid 102.25781 Spread 0.24219
2 Months Chg 0.0039 Bid 101.96875 Spread 0.28906

UST 5 YR Chg 0.0156 Bid 100.29688 Yield 1.3130
UST 10 YR Chg 0.0469 Bid 101.03125 Yield 1.8840
UST 30 YR Chg 0.0313 Bid 99.18750 Yield 2.5390
Euro Bid 1.0732 Chg 0.0048
Pound Bid 1.4915 Chg 0.0079
Yen Bid 119.050 Chg -0.060
Light Crude
Last 55.75

Key Economic Data:
Building Permits for Mar: Actual 1.039m, Consensus 1.080m, Last 1.102m.
Housing Starts for Mar: Actual 0.926m, Consensus 1.040m, Last 0.897m.

Initial Jobless Claims: Actual 294k, Consensus 280k, Last 281k.
Jobless Claims 4-wk avg: Actual 282.75k, Last 282,25k.
Continued Jobless Claims: Actual 2.268m, Consensus 2.312m, Last 2.304m.
7:00: Philly Fed Index for Apr
Business: Consensus 6.0, Last 5.0.
6M: Last 32.00.
Capex: Last 16.40.
Employment: Last 3.50.
Prices Paid: Last -3.0.
New Orders: Last 3.90.

Fewer than 300,000 American workers filed applications for unemployment benefits for the sixth consecutive week, pointing to labor-market strength even as hiring cooled last month. While a Labor Department report in Washington Thursday showed jobless claims increased by 12,000 to 294,000 in the week ended April 11, readings this low are typically consistent with an improving job market. The median forecast of 50 economists surveyed by Bloomberg called for 280,000. The total number of people currently receiving benefits was the lowest since 2000. Firings have remained low even as other labor-market data have shown the economy battled harsher weather, weaker demand from abroad and West Coast port disruptions early this year. A
muted pace of dismissals, and job openings at a 14-year high, will help buoy hiring after payroll gains cooled last month. If you have a job, youre probably not overly worried its going to go away, Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York, said before the report. Theyre sending a different message than some other labor-market indicators pointing toward softness. Another report showed housing starts climbed less than forecast in March, indicating builders were slow to take advantage of more favorable weather and underscoring that the housing recovery remains temperate. Work began on 926,000 homes at an annualized rate, up 2 percent from a 908,000 pace in February that was higher than
previously estimated, according to figures from the Commerce Department. The median forecast of economists surveyed by Bloomberg was for a 1.04 million rate. Building permits, a gauge of future construction, decreased.

My position on MBS:

Short term Stays Long.
Long term Stays Neutral.

Long = I anticipate pricing to improve which leads to lower Rates.
Neutral = Market should stay close to open plus or minimums 25bps.
Short = I anticipate pricing to weaken which leads to higher Rates.

Short term = 1 - 2 days out
Long term = 30+ days out

Market Commentary (Dan Rawitch)

Industrial Production, Empire Manufacturing and Capacity Utilization all missed expectations and this helping keep Mortgage Backs just above the trendline. We are vulnerable here and we have again failed to breakout and close above 102.60. In the next session or two the market will be forced to either breakout or fall down below the trendline. Later today we will see the Fed Biege Book release and that could push the market in one of the two directions mentioned. I remain highly bullish, but nervous at this level. It is always unwise to assume a breakout, so we should make the safe bet and believe that we are at the top of the range. Not a bad day to lock, given that thought.

Your thought for the day: "95% or more of the things that anger, scare or hurt you are transient and wont be remembered 30 days later, so save yourself the pain"

Trusted Industry Advisor

Jason Gordon Mortgage - www.GordonMortgage.com

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason 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) Certified Mortgage Coach (CMC), and Certified Military Housing Specialist (CMHS), 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.CrossApproval.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

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Comment balloon 0 commentsJason E. Gordon • April 21 2015 09:54AM
Mortgage Rate Update 4-21-2015: Trends & Projections
Another quiet day with respect to the release of economic reports. Recent trends have been fairly flat despite small ripples in either direction as of late. Compared to yesterday's closing, the market has opened with a 0. 125 worsening to the Points… more