Finally a free daily report that offers complete transparency regarding mortgage rates by showing the actual market activity which influences the direction of mortgage rates. All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES to insure the best financial decisions are being made without the distraction of marketing gimmicks. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why) by subscribing to this complimentary daily update.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Friday 4-6-2012 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 Thursday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's WORSENING resulted in a change of 9 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the market activity for today:
The following chart shows market activity over the past 10 days (hint: green is good, red is bad):
The following chart shows market activity over the past 1 month:
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.
Analyst: Neil Trenerry
3.0 Coupon: Previous Close 99.766 Open 100.344 Change 0.578
3.5 Coupon: Previous Close 102.813 Open 103.266 Change 0.453
4.0 Coupon: Previous Close 104.953 Open 105.297 Change 0.344
5 Year: Previous Close 99.969 Open 100.359 Change 0.383 Yield 0.926
10 Year: Previous Close 98.453 Open 99.234 Change 0.781 Yield 2.088
30 Year: Previous Close 96.266 Open 97.547 Change 1.279 Yield 3.255
Key Economic Data:
EUR/USD: Previous Close 1.3062 Open 1.3084 Change 0.0022
GBP/USD: Previous Close 1.5827 Open 1.5870 Change 0.0043
USD/JPY: Previous Close 82.350 Open 81.540 Change -0.8200
Gold: Previous Close 1628.50 Open 1628.50 Change 0.00
Oil: Previous Close 103.31 Open 103.31 Change 0.00
Key Economic News:
Non-farm payrolls for Mar: Actual 120k, Consensus 203k, Last 227k.
Manufacturing payrolls: Actual 37k, Consensus 20k, Last 31k.
Private payrolls: Actual 121k, Consensus 218k, Last 233k.
Unemployment rate: Actual 8.2%, Consensus 8.3%, Last 8.3%.
Average earnings: Actual 0.2%, Consensus 0.2%, Last 0.1%.
Government payrolls: Actual -1k, Last -6k.
12:00 Consumer credit for Feb: Consensus 12.00b, Last 17.78b.
After this morning’s improvement we might start to see some selling as traders close positions to protect profits.
Today the markets close early.
My position on MBS changes to neutral (Close out long position).
Trusted Industry Advisor
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
Sr. Mortgage Loan Officer
CMPS, CDPE, CMHS, CMC, NMLS 259027
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