Daily Mortgage Interest Rate Updates, Trends & Projections: California: Bonsall

Mortgage Rate Update 10-10-12: Trends Projections & Today's Best Rates

The numbers do not look favorable initially as the market has opened.  There was a Mortgage Backed Security (MBS) monthly coupon rollover after the close of trading yesterday which had a net effect of -23.78 basis points. As with all rollover coupons, take the chart patterns below with a grain of salt.

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 nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about 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.

Jason E. Gordon - Mortgage Rate Update - www.jasongordon.net

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

The following information is current as of Wednesday 10-10-2012 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 Tuesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING netted a change of 6 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 activity thus far 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 (Neil Trenerry):

 

FNMA 30-Year:

2.5 Coupon: Open 102.375  Change -0.047

3.0 Coupon: Open 104.828  Change -0.016

3.5 Coupon: Open 106.422  Change -0.016

 

Treasuries:

5 Year: Open 997503 Change -0.063  Yield 0.676

10 Year: Open 98.953  Change -0.188  Yield 1.741

30 Year: Open 96.000  Change -0.328  Yield 2.952

 

Key Economic Data:

EUR/USD: Open 1.2884 Change  0.0002

GBP/USD: Open 1.6001 Change 0.0013

USD/JPY: Open 78.250 Change 0.100

Oil: Open 91.98 Change -0.410


Key Economic Data:

Mortgage Market

Index: Actual 1008.1, Last 1020.4.

Purchase: Actual 198.9, Last 194.2.

Refinance:  Actual  5772.6, Last  5888.0.

30-year Rate: Actual 3.56%, Last 3.53%.

7:00: Wholesale Inventories for Aug: Consensus 0.5%, Last 0.7%.

11:00: Federal budget for Sep: Consensus 42.0b, Last  -191.0b.

 

Advice:

Treasuries declined, pushing 10-year yields toward the most in more than two weeks, before the U.S.sells $21 billion of the notes, the second of three auctions of coupon-bearing securities this week totaling $66 billion. Thirty-year bonds fell for the fourth time in the past five trading days before the Federal Reserve releases its Beige Book business survey today. Fed Vice Chairman Janet Yellen said asset purchases by the central bank that boost U.S. economic growth will benefit the world. U.S. yields rose before Spanish Prime Minister Mariano Rajoy meets French President Francois Hollande in Paris as investors wait to hear if Spain will request a sovereign bailout. “Investors are taking a wait and see stance until we see further developments, particularly in Spain,” said Nick Stamenkovic, a fixed-income strategist at RIA Capital Markets Ltd. in Edinburgh. “The U.S. economy is on a relatively steady footing. Some of the pessimism about the U.S. is overdone” and 10-year yields will rise toward 2 percent by year end, he said.

 

My position on MBS stays Long.

Trusted Industry Advisor

Jason E Gordon, San Diego Residential Mortgage Specialist, www.ApprovingSD.com

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.

Do you want mortgage rate updates on your cell phone?  Simply text the word UPDATES to 79564

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, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

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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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Comment balloon 0 commentsJason E. Gordon • October 10 2012 06:41AM
Mortgage Rate Update 10-10-12: Trends Projections & Today's Best…
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The numbers do not look favorable initially as the market has opened. There was a Mortgage Backed Security (MBS) monthly coupon rollover after the close of trading yesterday which had a net effect of -23. 78 basis points. As with all rollover… more