Daily Mortgage Interest Rate Updates, Trends & Projections: California: San Diego: Cardiff-by-the-sea

Mortgage Rate Update 6-26-13: Trends Projections & Today's Best Rates

Mortgage Backed Security pricing has rised again this morning due to the fact that the final Gross Domestic Product numbers were revised much lower than expected, along with additional positive remarks from the Fed Officials.  The market is currently down 40 bps.

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.  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!

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 6-26-2013 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 a SIGNIFICANT WORSENING to pricing.  Tuesday's SIGNIFICANT WORSENING netted a change of 50 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 activity thus far 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 (Neil Trenerry)

 

FNMA 30-Year:

 

2.5 Coupon: Open 92.1875 Change 1.0000

 

3.0 Coupon: Open 96.8906 Change 1.3906

 

3.5 Coupon: Open 100.7500 Change 0.8281

 

4.0 Coupon: Open 103.5469 Change 0.6406



Treasuries:

 

5 Year: Open 98.0781 Change 0.4141 Yield 1.4030

 

10 Year: Open 93.2969 Change 0.7813 Yield 2.5180

 

30 Year: Open 87.4063 Change 1.0938 Yield 3.5610



Key Economic Data

 

EUR/USD: Open 1.3038 Change -0.0047

 

GBP/USD: Open 1.5381 Change -0.0041

 

USD/JPY: Open 97.460 Change -0.360



Oil: Open 94.45



Key Economic Data:



Mortgage Market

 

Index: Actual 629.2, Last 648.9.

 

Purchase: Actual 214.8, Last 210.4.

 

Refinance: Actual 3041.4, Last 3208.5.

 

30-yr Rate: Actual 4.46%, Last 4.17%.



Building permits for May: Actual 0.985m, Last 0.974%. Change: Actual -2.0%, Last -3.1%.



GDP final for Q1

 

Index: Actual 1.8% Consensus 2.4%, Last 2.4%.

 

Consumer spending: Actual 2.6%, Last 3.4%.

 

Deflator: Actual 1.3%, Consensus 1.1%, Last 1.2%.

 

Sales: Actual 1.2%, Consensus 1.8%, Last 1.8%.



Advice:

 

It looks like the GDP numbers have helped return the market to the positive side. Perhaps now we might see a nice rally.

 

My position on MBS changes to Long.

 

( FNMA 3.00 Jul 91*31 )

 

 

Market Commentary (Dan Rawitch)


Sucky GDP has sparked a sweet move in bonds. Can you believe GDP comes in at 1.8%? THat is horrible. We need 5% growth just to create meaningful jobs! As I keep saying...now is not a good time to quit drugs and Bernanke knows that. Lets look for 102 on the near term and see if we can break through. Stay cautious thought...this market is as volitile as a pissed off tiger! It may look sweet, but it can still eat you.

Sell what you have...remind people that things can still get much worse and that rates are still AMAZING! It is all a matter of perspective...your job is to sell the correct perspective. Your job is NOT to sell hope

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. 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.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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Recommended Links:

 

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Comment balloon 0 commentsJason E. Gordon • June 26 2013 09:52AM
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