Daily Mortgage Interest Rate Updates, Trends & Projections: California: Palomar Mountain

Mortgage Rate Update 5-9-12: Trends, Projections & Todays Lowest Rates

The market continues to make small moves overall. Are we due for a large swing before the week comes to a close? The graphs below have been provided as a resource fo you to see past the marketing hype of mortgage companies and learn the true direction of mortgage rates, along with the vital knowledge behind THE TRUTH BEHIND MORTGAGE QUOTES .

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 Wednesday 5-9-2012 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)

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

The following chart shows the market activity for 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 Lowest 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 Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary

Analyst: Neil Trenerry

 

FNMA 30-Year:

3.0 Coupon: Previous Close 101.188  Open 101.328  Change 0.141

3.5 Coupon: Previous Close 104.125  Open 104.250  Change 0.125

4.0 Coupon: Previous Close 106.125  Open 106.188  Change 0.063

Treasuries:

5 Year: Previous Close 100.547  Open 100.680  Change 0.133  Yield 0.736

10 Year: Previous Close 101.453  Open 101.750  Change 0.313  Yield 1.802

30 Year: Previous Close 101.969  Open 102.453  Change 0.469  Yield 3.000


Key Economic Data:

EUR/USD: Previous Close 1.2998  Open 1.2944 Change -0.0054

GBP/USD: Previous Close 1.6150  Open 1.6091 Change -0.0059

USD/JPY: Previous Close 79.890  Open 79.550  Change -0.3500

Gold: Previous Close 1604.00 Open 1592.50 Change -11.50

Oil: Previous Close 97.01 Open 95.89 Change -1.12


Key Economic News:

Mortgage Market

Index: Actual 710.4, Last 698.2. Change: Actual 1.7%, Last 0.1%.

Purchase: Actual 197.1, Last 190.7. Change: Actual 3.4%, Last 2.9%.

Refinance: Actual 3734.8, Last 3687.7. Change: Actual 1.3%, Last -0.7%.

30-yr mortgage: Actual 4.01%, Last 4.05%.

7:00: Wholesale Inventories for Mar: Consensus 0.6%, Last 0.9%.

 

Advice:

Again with not a lot of news to help, and the Government still buying MBSs. I would expect the market to hold these levels.

My position on MBS stays neutral.

 Analyst: Dan Rawitch

Here is the link to today's video http://ratewatch.com/ratewatchnow

The nice uptrend continues.  We now have a ten year about to break 1.80% and I see no reason for this not to continue, provided the DOW continues its overdue correction.

Watch the jobs report tomorrow for clues.  If we see improvement there, we will test 104.00 and only then know, if that is where are true support lies.  I suspect it will hold and the rally may continue if we get a weak consumer confidence report.

Stay cautious...but I am still bullish!

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.

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

 

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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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 • May 09 2012 02:00PM
Mortgage Rate Update 5-9-12: Trends, Projections & Todays Lowest…
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The market continues to make small moves overall. Are we due for a large swing before the week comes to a close? The graphs below have been provided as a resource fo you to see past the marketing hype of mortgage companies and learn the true… more