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 that 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 Wednesday 7-18-2012 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 Tuesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING resulted in a change of 3 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the market activity for today:
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: Neil Trenerry
3.0 Coupon: Previous Close 103.453 Open 103.641 Change 0.188
3.5 Coupon: Previous Close 105.781 Open 105.938 Change 0.156
4.0 Coupon: Previous Close 106.969 Open 107.063 Change 0.094
5 Year: Previous Close 100.641 Open 100.727 Change 0.086 Yield 0.601
10 Year: Previous Close 102.266 Open 102.500 Change 0.234 Yield 1.476
30 Year: Previous Close 108.375 Open 108.859 Change 0.484 Yield 2.573
Key Economic Data:
EUR/USD: Previous Close 1.2293 Open 1.2231 Change -0.0062
GBP/USD: Previous Close 1.5652 Open 1.5615 Change -0.0037
USD/JPY: Previous Close 79.040 Open 79.030 Change -0.010
Oil: Previous Close 89.22 Open 89.04 Change -0.18
Key Economic News:
Index: Actual 935.4, Last 799.9
Purchase: Actual 192.4, Last 192.6.
Refinance: Actual 5314.4, Last 4369.3.
30-year rate: Actual 3.74%, Last 3.79%.
Housing for Jun
Starts: Actual 0.760m, Consensus 0.745m, Last 0.708m. Change: Actual 6.9%, Last -4.8%.
Permits: Actual 0.755m, Consensus 0.765m, Last 0.784m. Change: Actual -3.7%, Last 8.4%.
I don’t think that the Housing numbers will do anything to change the current course of the market. I see the 3.0 coupon staying around the 103.500 – 103.875 range.
My position on MBS stays Neutral.
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.
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, RCS-D, CDPE, CMHS, CMC, NMLS 259027
11260 El Camino Real, Ste. 100, San Diego, CA 92130
What People Are Saying About Jason Gordon
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