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

Mortgage Rate Update 11-30-12: Trends Projections & Today's Best Rates

Can you believe today is the last day of November? After a flat morning on Thursday, we saw dips and gains throughout the afternoon.  The net result was a postive gain of 6 basis points. Thus far this morning, we find ourselves again in positive territory with a modest gain of 6 basis points.

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 Friday 11-30-2012 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 Thursday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's IMPROVEMENT netted a change of 6 basis points (bps).

(hint: upward activity is good, downward activity is bad)

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows market activity thus far 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 Best 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 Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary (Neil Trenerry):


FNMA 30-Year:
2.5 Coupon: Bid 102.5000 Change 0.1563
3.0 Coupon: Bid 105.2031 Change 0.1250
3.5 Coupon: Bid 106.6875 Change 0.0625


Treasuries:
5 Year: Bid 100.0156 Change 0.0381 Yield 0.6230
10 Year: Bid 100.1719 Change 0.1250 Yield 1.6060
30 Year: Bid 99.4219 Change 0.3906 Yield 2.7770


Key Economic Data:
EUR/USD: Bid 1.2978 Change 0.0001
GBP/USD: Bid 1.6002 Change -0.0039
USD/JPY: Bid 82.660 Change 0.540
Oil: Last 88.08


Key Economic Data:
Personal consump for Oct: Actual -0.3%, Last 0.4%.
Personal income for Oct: Actual 0.0%, Consensus 0.2%, Last 0.4%.
PCE for Oct
Price index: Actual 0.1%, Last 0.4%.
Core Piece index: Actual 0,1%, Consensus 0.2% Last 0.1%.
6:45: Chicago PMI for Nov
Index: Consensus 50.5, Last 49.9.
Prices paid: Last 59.3.
Production: Last 51.8.
7:30: ECRI weekly index: Last 125.7.


Advice:
With the news showing signs the economy is still struggling, and the Fiscal cliff getting ever closer with no signs of compromise. We should see the market continue to rally.


My position on MBS stays Long.

Market Commentary (Dan Rawitch)


http://www.ratewatch.com/ratewatchnow.html

(click on the link above for a brief video conducted by Mr. Rawitch)
Well...here we are, right at the tippy top of the trading range and solidly on the trendline.  What happens next will determine a 40 bps rise or a 60 bp fall.  The fundamentals suggest a break to the high side this morning, but this resisistence level looks strong.  Keep your hand on the trigger if you are floating

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

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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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 • November 30 2012 10:37AM
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