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

Mortgage Rate Update 10-15-12: Trends Projections & Today's Best Rates

Just before the final bell, we find ourselves at minus 9 basis points for this turbulent day.

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 Monday 10-15-2012 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 Friday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's WORSENING netted a change of 9 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 the activity thus far for 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 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 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: Open 102,797  Change -0.172

3.0 Coupon: Open 105.219  Change -0.016

3.5 Coupon: Open 106.578  Change 0.000

 

Treasuries:

5 Year: Open 99.805 Change -0.008  Yield 0.665

10 Year: Open 99.594  Change -0.063  Yield 1.670

30 Year: Open 98.031  Change -0.281  Yield 2.848

 

Key Economic Data:

EUR/USD: Open 1.2955 Change  0.0001

GBP/USD: Open 1.6070 Change -0.0011

USD/JPY: Open 78.390 Change 0.290

Oil: Open 91.83 Change -0.040

Key Economic Data:

NY Fed Manufacturing for Oct: Actual -6.16, Consensus -4.55, Last -10.41.

Retail sales for Sep

Index: Actual 1.1%, Consensus 0.8%, Last 0.9%.

Ex-autos: Actual 1.1%, Consensus 0.6%, Last 0.8%.

7:00: Business inventories for Aug: Consensus 0.5%, Last 0.8%.

 

Advice:

 

Retail sales in the U.S. rose more than projected in September, reflecting broad-based gains that indicate household spending helped bolster economic growth last quarter. The 1.1% gain followed a revised 1.2% increase in August that was the biggest since October 2010 and larger than previously reported, Commerce Department figures showed today in Washington. The median forecast of 77 economists surveyed by Bloomberg called for a 0.8% rise. A drop in joblessness and firming home prices are leading to gains in confidence that may help chains such as Target Corp. and TJX Cos. keep attracting customers. At the same time, rising energy costs and concern about looming tax changes at the end of the year may prevent consumer spending, which accounts for about 70% of the economy, from strengthening much more. “We’re headed in the right direction,” Millan Mulraine, senior U.S. strategist for TD Securities in New York, saidbefore the report. “The labor market is fairly weak but it seems to be at a turning point. We have to get beyond all the uncertainty before we’ll see stronger consumer spending.” Economists’ estimates in the Bloomberg survey ranged from gains of 0.3% to 1.3%. The reading for August was revised from an initially reported increase of 0.9%. Twelve of 13 major categories showed gains last month, led by auto dealers, service stations and electronics stores.

 

My position on MBS stays Long.

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

 

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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 • October 15 2012 01:50PM
Mortgage Rate Update 10-15-12: Trends Projections & Today's Best…
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Just before the final bell, we find ourselves at minus 9 basis points for this turbulent day. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are… more