Daily Mortgage Interest Rate Updates, Trends & Projections

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Mortgage Rate Update 3-1-12: Trends, Projections & Today's Lowest Rates

Leap Day was painful for mortgage rates! What can we expect from mortgage rates in the month of March? 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 daily update.

Mortgage Street Smarts - Daily interest rate updates, daily mortgage rate projections, mortgage quotes, featuring todays best mortgage rates. Provided by San Diego Residential Mortgage Specialist Jason E Gordon, CMPS, Direct Lender, Mortgage Broker, San Diego, CA. Visit www.MortgageStreetSmarts.com for free online mortgage calculator, no hassle mortgage quote, and secure online mortgage loan application.

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

The following information is current as of Thursday 3-1-2012 and will help you understand todays 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Wednesday's WORSENING resulted in a change of 33 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 market activity 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 Lowest 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

Analyst: Dan Rawitch

Here is the link to today's video http://ratewatch.com/ratewatchnow.html

Mixed news on the economy but Bernanke sees things worsening.  His comments should have created a rally, not a sell off, but the market is looking for definitive comments on future easing.  Can you imagine that?

Analyst: Neil Trenerry

 

FNMA 30-Yr 3.5%

Previous close 103.375

Opened Down 0.33 @ 103.031

Key Economic Data:

EUR / USD   1.3330  Up  0.0005
USD / JPY  81.120  Down  0.0300
GBP / USD  1.5952  Up  0.0039
Oil   107.45  Up  0.38

Gold   1,711.90   Up   0.60


Key Economic News:

Personal Income for Jan;

Actual 0.3%, Consensus 0.4%, Last -.5%.

PCE

Core price index Year-on-year for Jan: Actual 1.9%, Last 1.8%.

Core price index Month-on-month for Jan: Actual 0.2%, Consensus 0.2%, Last 0.2%.

Unemployment:

Initial jobless claims: Actual 351k, Consensus 351k, Last 351k.

Jobless claims 4 week average: Actual 354k, Last 359k.

Continued jobless claims: Actual 3.402mm, Consensus 3.400mm, Last 3.392mm.

Construction spending for Jan: Actual -0.1%, Consensus 1.0%, Last 1.5%.

ISM Manufacturing PMI for Feb: Actual 52.4, Consensus 54.5, Last 54.1.

Employment Index: Actual 53.2 Last 54.3.

New orders index: Actual 54.9, Last 57.6

 

Advice:

My position on MBS stays Long (Average down thru the day).

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.jasonegordon.com or www.ApprovingSD.com or more information.

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

Sr. Mortgage Loan Officer

CMPS, CDPE, CMC, NMLS 259027

AmeriFirst Financial, San Diego Residential Mortgage Specialist, Jason E Gordon

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

Attention Real Estate Agents!

(click the video below to learn about my "Preferred Realtor Partner" marketing technology)

 

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.

AmeriFirst Financial Jason Gordon

 

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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0 commentsJason E. Gordon • March 01 2012 08:04AM
Mortgage Rate Update 3-1-12: Trends, Projections & Today's Lowest…
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Leap Day was painful for mortgage rates! What can we expect from mortgage rates in the month of March? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES to… more