Do you know someone who is currently applying for a mortgage loan and looking for the lowest mortgage rates? By forwarding this article, you will be doing them a huge favor! Finally a free daily report which offers complete transparency regarding mortgage rates by showing the actual market activity which influences the direction of mortgage rates. All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES to insure the best financial decisions are being made without the distraction of marketing gimmicks. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why) by subscribing to this complimentary daily update.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Tuesday 7-31-2012 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 (and will typically warrant a pricing adjustment by most Lenders). Monday's IMPROVEMENT resulted in a change of 18 basis points (bps).
(hint: upward activity is good, downward activity is bad)
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.
Market Commentary
Analyst: Neil Trenerry
FNMA 30-Year:
3.0 Coupon: Previous Close 103.875 Open 104.078 Change 0.203
3.5 Coupon: Previous Close 106.000 Open 106.141 Change 0.141
4.0 Coupon: Previous Close 107.141 Open 107.219 Change 0.078
Treasuries:
5 Year: Previous Close 99.430 Open 99.555 Change 0.125 Yield 0.591
10 Year: Previous Close 102.234 Open 102.500 Change 0.266 Yield 1.475
30 Year: Previous Close 108.703 Open 109.266 Change 0.563 Yield 2.554
Key Economic Data:
EUR/USD: Previous Close 1.2260 Open 1.2281 Change 0.0021
GBP/USD: Previous Close 1.5709 Open 1.5656 Change -0.0053
USD/JPY: Previous Close 78.150 Open 78.210 Change 0.060
Oil: Previous Close 89.78 Open 89.43 Change -0.35
Key Economic News:
ICSC chain stories:
Week-on-week: Actual -1.7%, Last 1.0%
Year-on-year: Actual 1.8%, Last 3.3%.
PCE for Jun
Personal consump: Actual -0.1%, Last 0.1%.
Personal Income: Actual 0.5%, Consensus 0.4%, last 0.2%.
Price Index: Actual 0.1%, Last -0.2%.
Core Price Index: Actual 0.2%, Consensus 0.2%, last 0.1%.
Employment wages quarterly: Actual 0.6%, Last 0.5%.
Employment benefits quarterly: Actual 0.6%, Last 0.5%.
Employment Costs quarterly: Actual 0.5%, Consensus 0.5%, Last 0.4%.
Redbook
Week-on-week: Actual -1.4%, Last -1.3%.
Year-on-year: Actual 1.1%, last 1.3%.
CaseShiller for May
Month-on-month NSA: Actual 2.2%, Consensus 1.5%, Last 1.3%
Month-on-month SA: Actual 0.9%, Consensus 0.5%, Last 0.7%.
Year-on-year: Actual -0.7%, Consensus -1.5%, Last -1.9%.
6:45: Chicago PMI for Jul: Consensus 52.4, Last 52.9.
7:00: Consumer Confidence for Jul: Consensus 61.5, Last 62.0.
7:30: Dallas Fed Services Reve for Jul: Last 10.9.
Advice:
I don’t expect much from today as I believe the markets are waiting for the FOMC Announcement and the ECB Announcement the following day. But the Fed merely begins their 2-day meeting today with the announcement scheduled for Wednesday.
My position on MBS stays Long.
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.
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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, CDLP, CDRE, RCS-D, CDPE, CMHS, CMC, NMLS 259027
Office: 619-200-8031
Email: jgordon@amerifirst.us
11440 W. Bernardo Court, Ste. 300, San Diego, CA 92127
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.
Attention Real Estate Agents!
Ever heard of a Lender having more "skin in the game" during escrow than a Buyer? Ever wish a Lender would put their money where their mouth is? Learn how the Protect Your Transaction (PYT) program will improve the negotiation leverage for a Buyer, as well as how PYT benefits the Seller & Realtors in this short video.
Recommended Links:
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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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