Daily Mortgage Interest Rate Updates, Trends & Projections

Mortgage Rate Update 5-5-2015: Trends & Projections

Yet another volatile morning thus far with the cost to acquire interest rates getting higher. Trade Deficit and ISM Services Data reports are partially responsible for fueling this increase in mortgage pricing.

Compared to yesterday's closing, the market has opened with a 0.125 - 0.250 worsening the Points/Credits associated with any given interest rate option.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Professionals 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 5-5-2015 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 SIGNIFICANT WORSENING to pricing. Monday's SIGNIFICANT WORSENING netted a change of 40 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)

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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.

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Market Commentary (Neil Trenerry)

Market Update

FNMA
Cpn 2.5 Chg 0.0000 Bid 97.54688
Cpn 3.0 Chg 0.0313 Bid 101.21875
Cpn 3.5 Chg 0.0469 Bid 104.35938
Cpn 4.0 Chg 0.0469 Bid 106.65625
FNMA Cpn 3.0 Forward Delivery over current Month pricing
1 Month Chg 0.0000 Bid 100.97656 Spread 0.24219
2 Months Chg -0.0039 Bid 100.68750 Spread 0.28906

Treasury
UST 5 YR Chg 0.0547 Bid 99.43750 Yield 1.4930
UST 10 YR Chg 0.0938 Bid 98.81250 Yield 2.1350
UST 30 YR Chg 0.1094 Bid 92.54688 Yield 2.8740

Currency
Euro Bid 1.1157 Chg 0.0011
Pound Bid 1.5151 Chg 0.0032
Yen Bid 120.170 Chg 0.050
Light Crude
Last 60.75

Key Economic Data:
International Trade for Mar: Actual -51.37b, Consensus -41.2b, Last -35.4b.
Redbook
MM: Actual 0.4%, Last 0.2%.
YY: Actual 1.6%, last 1.4%.
6:45: Markit Final PMI for Apr
Comp: Last 57.4.
Services: Last 57.8.
7:00: ISM N-Mfg for Apr
PMI: Consensus 56.2, Last 56.5.
Bus Act: Consensus 57.9, Last 57.5.
Employment: Last 56.6.
New Orders: Last 57.8.
Prices Paid: Last 52.4.

My position on MBS:
Short term Stays Short.
Long term Stays Short.

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)

 
The horrible and nonsensical sell off continues. As feared yesterday, we have gone down to test 101.00. At this point the market has assumed the Fed will raise rates and belive it or not, that puts us in a win-win situation. If the FED does raise rates, that and much much more is already priced into that more. If the FED does not raise rates...well, we will still get back most of what we've lost over the last couple of weeks. I know it seems illogical. but that pretty much sums up the market. Buy (or sell) the Rumor and Sell (or buy) the news. I suspect we will hold at 101.00, but this market is do emotional, anything can still happen.

Let's hope the market snaps out of the current sentiment!
  

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

Branch Manager | Sr. Mortgage Loan Officer

CMPS,  RCS-D, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

11260 El Camino Real, Ste. 100, San Diego, CA 92130

 

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Comment balloon 0 commentsJason E. Gordon • May 05 2015 07:27AM
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