Daily Mortgage Interest Rate Updates, Trends & Projections: California: Cardiff by the Sea

Mortgage Rate Update 12-20-12: Trends Projections & Today's Best Rates

After a couple of rough days, we have seen a slight bounceback due to higher than expected jobless claims (an obvious correction from the previous reports suggesting unusually strong jobless recovery so soon after Hurricane Sandy).

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 Thursday 12-20-2012 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 Wednesday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Wednesday's IMPROVEMENT 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 market activity thus far today:

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 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


 

Market Commentary (Neil Trenerry):

FNMA 30-Year:
2.5 Coupon: Bid 101.5938 Change 0.1094
3.0 Coupon: Bid 104.4688 Change 0.1094
3.5 Coupon: Bid 106.2969 Change 0.0469

Treasuries:
5 Year: Bid 99.9453 Change 0.0547 Yield 0.7610
10 Year: Bid 98.5000 Change 0.1406 Yield 1.7930
30 Year: Bid 95.4219 Change 0.2031 Yield 2.9820

Key Economic Data:
EUR/USD: Bid 1.3285 Change 0.0060
GBP/USD: Bid 1.6284 Change 0.0040
USD/JPY: Bid 84.280 Change -0.120
Oil: Last 89.53

Key Economic Data:
Corporate profits Rev for Q3: Actual 2.5%, Consensus 3.3%, Last 3.3%.
GDP Final for Q3
Index: Actual 3.1%, Consensus 2.8%, Last 2.7%.
Sales: Actual 2.4%, Consensus 2.8%, Last 2.7%.
Consumer Spending: Actual 1.6%, Last 1.4%.
Deflator: Actual 2.7%, Consensus 2.8%, Last 2.8%.
Core PCE prices: Actual 1.1%, Consensus 1.1%, Last 1.1%.
PCE prices: Actual 1.6%, Consensus 1.6%, Last 1.6%.
Unemployment
Initial jobless claims: Actual 361k, Consensus 357k, Last 343k.
Jobless claims 4-weel average: Actual 367.75k, Last 381.50k.
Continued jobless claims: Actual 3.225m, Consensus 3.199m, Last 3.189m.
7:00: Existing home sales for Nov: Consensus 4.87m, Last 4.79m.
7:00: Monthly home price for Oct
Month-on-month: Last 0.2%.
Year-on-year: Last 4.4%.
7:00: Leading index chg for Nov: Consensus -0.2%, Last 0.2%.
7:00: Philly Fed business index for Dec: Consensus -3.0, Last -10.7.

Advice:
We might start to see some erratic market swings as traders start to leave for the holidays. Again I expect the market to trade in the 101.375 101.750 range.

My position on MBS stays Neutral.

Market Commentary (Dan Rawitch)

Here is Dan's video for today:
http://www.ratewatch.com/ratewatchnow.html

Well...Christmas came early for you frightened floaters.  The GDP and Philly Fed numbers should have taken us back down to test 104.20 (still could happen), But...instead the market opened ABOVE the downward trend line and COULD test 104.70ish.   I'd be very careful at that level and I would not suggest being greedy!  The news today and the 10 year chart both spell another run at the bottom, in days to come.

Market Commentary (Barry Habib)

Click on the following link for a brief video conducted by Mr. Habib: http://www.mbshighway.com/nrep/dailyvideo.html

Trusted Industry Advisor

San Diego Residential Mortgage Specialist Jason E Gordon

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity.

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 best 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

 

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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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 • December 20 2012 10:22AM
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