Daily Mortgage Interest Rate Updates, Trends & Projections: California: Borrego Springs

Mortgage Rate Update 8-7-12: Trends Projections & Today's Lowest Rates

The market opened today significantly worse than where it closed.  See below for market commentary, trends, and projections. If you or someone you care about is shopping for a mortgage loan, make sure to read THE TRUTH BEHIND MORTGAGE QUOTES to insure you make the best financial decisions and avoid falling for clever marketing gimmicks.

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 Tuesday 8-7-2012 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's WORSENING resulted in a change of 3 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 Best 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:

3.0 Coupon: Previous Close 103.609  Open 103.328  Change -0.281

3.5 Coupon: Previous Close 105.688  Open 105.500  Change -0.203

4.0 Coupon: Previous Close 107.047  Open 106.906  Change -0.141

 

Treasuries:

5 Year: Previous Close 99.070 Open 98.859 Change  -0.203  Yield 0.689

10 Year: Previous Close 101.188  Open 100.672 Change -0.531 Yield 1.618

30 Year: Previous Close 105.828  Open 104.406 Change -1.422 Yield 2.713

Key Economic Data:

EUR/USD: Previous Close 1.2431  Open 1.2468 Change  0.0034

GBP/USD: Previous Close 1.5667  Open 1.5735 Change 0.0065

USD/JPY: Previous Close 78.520  Open 78.800 Change 0.300

Oil: Previous Close 91.40 Open 91.90 Change 0.50

 
Key Economic News:

ICSC chain stores

Week-on-week: Actual 0.0%, Last -1.7%

Year-on-year: Actual 2.4%, Last 1.8%.

Redbook

Week-on-week: Actual -0.2%, Last -1.4%

Year-on-year: Actual 2.0%, Last 1.1%.

12:00: Consumer Credit for Jun: Consensus 11.0b, Last 17.12b.

 

Advice:

 

Treasuries dropped for a third day as the U.S. prepared to sell $72 billion of coupon-bearing debt this week, starting with an auction of three-year notes today. Ten-year yields rose to the highest level in a month after the German government backed a bond-buying plan announced last week by the European Central Bank, reducing demand for the safest assets. And with just Consumer Credit to come out at 12:00 the depending on how the auction goes today will dictate the market mood.

 

My position on MBS changes to neutral.

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

 

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.

 

 

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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.

 

Gordon Mortgage Group - AmeriFirst Financial

 

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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Comment balloon 0 commentsJason E. Gordon • August 07 2012 10:24AM
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