Daily Mortgage Interest Rate Updates, Trends & Projections

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Mortgage Rate Update 1-8-14: Trends & Projections

Mortgage Backed Securities moved lower this morning after the release of stronger-than-expected labor market data. The ADP forecast for private sector job gains in December was 238K (above the consensus of 205K). The Dow is down 70 points. The result was an opening of approximately 0.125 WORSE to the points/credits associated with any given interest rate.

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 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 Wednesday 1-8-2014 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 an IMPROVEMENT to pricing. Tuesday's IMPROVEMENT netted a change of 16 basis points (bps).

(Note: Upward activity on these charts is GOOD, downward activity is BAD)

Best Mortgage Rates in San Diego - www.GordonMortgage.com

The following chart summarizes todays market activity:

 Best Mortgage Rates in San Diego - www.GordonMortgage.com

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

 Best Mortgage Rates in San Diego - www.GordonMortgage.com

The following chart shows market activity over the past 1 month:

Best Mortgage Rates in San Diego - www.GordonMortgage.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.

 Best Mortgage Rates in San Diego - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

FNMA
Cpn 3.0 Chg -0.3906 Bid 95.03125
Cpn 3.5 Chg -0.2969 Bid 99.56250
Cpn 4.0 Chg -0.1875 Bid 103.28125

 

Treasury
UST 5 YR Chg -0.2083 Bid 98.93750 Yield 1.7240
UST 10 YR Chg -0.3281 Bid 98.04688 Yield 2.9800
UST 30 YR Chg -0.4375 Bid 97.20313 Yield 3.9090
Currency
Euro Bid 1.3602 Chg -0.0013
Pound Bid 1.6448 Chg 0.0047
Yen Bid 104.750 Chg 0.140
Light Crude
Last 93.66

 

Key Economic Data:
Mortgage Market
Index: Actual 345.1, Last 351.1
Purchase: Actual 171.9, Last 168.6
Refinance: Actual 1375.6, Last 1444.3
30-yr Rate: Actual 4.72%, Last 4.64%.
ADP national employment for Dec: Actual 238.0k, Consensus 200k, Last 215k, Revised 229k
12:00: Consumer Credit for Nov: Consensus 15.00b, Last 18.19b.

 

Advice:
Treasuries fell for the first time in three days before the U.S. sells $21 billion of 10-year notes and as signs the economic recovery is gathering pace spurred bets the Federal Reserve will keep reducing debt purchases. Benchmark yields extended gains as a private report showed more jobs growth last month than forecast before the Fed releases the minutes of its December meeting when it announced plans to cut bond buying starting this month. Economists said a government report this week will show U.S. employers added almost the same number workers in December as the month before while the jobless rate stayed at a five-year low. The three-year yield rose to the highest since September after a $30 billion auction of the securities yesterday attracted the least demand since October. The market is taking it as a reason to sell back off toward the 3-percent line, said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia, which oversees $11 billion in fixed income assets, referring to the private jobs report. Any crossover of 3 percent will be met by good demand. Were relatively close to the high end of the trading range.

 

My position on MBS
Short term Neutral.
Long term Short.

Market Commentary (Dan Rawitch)

ADP job report came in better than expected. The market is seeing selling pressure. We did test the top of the trading range yesterday and that will continue to cause a pull down to the bottom. We will need some bond friendly info to come out of todays Fed Minutes. I dont expect that. I would be prepared to continue our drift down, until we see the employment numbers on Friday

 

Sorry about the sound quality...it gets very bad at the end of the video! I will fix that problem.

 

Here is today's video link:

Trusted Industry Advisor

San Diego Mortgage Rates - Jason Gordon - www.JasonGordonMortgage.com

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. 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) 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.GordonMortgage.com 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

Sr. Mortgage Loan Officer

CMPS, CDPE, CMC, NMLS 259027

AmeriFirst Financial, San Diego Residential Mortgage Specialist, Jason E Gordon

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

Attention Real Estate Agents!

(click the video below to learn about my "Preferred Realtor Partner" marketing technology)

 

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.

AmeriFirst Financial Jason Gordon

 

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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0 commentsJason E. Gordon • January 08 2014 01:56PM
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