Daily Mortgage Interest Rate Updates, Trends & Projections: California: San Diego: Crown Point

Mortgage Rate Update 5-1-12: Trends, Projections & Todays Lowest Rates

Do you ever wonder how so many Banks can each claim to have the best mortgage rates on the same day? This is clearly an example of clever advertising designed to lure you in to making unsound buying decisions. Before making a commitment to work with a Bank, Direct Lender, or Mortgage Broker, first read THE TRUTH BEHIND MORTGAGE QUOTES to insure that you are not falling for clever advertising gimmicks when securing your largest debt!

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 Tuesday 5-1-2012 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 Monday with a NEUTRAL RESULT to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's NEUTRAL RESULT resulted in a change of 0 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 101.031  Open 101.094  Change 0.063

3.5 Coupon: Previous Close 103.828  Open 103.875  Change 0.047

4.0 Coupon: Previous Close 105.766  Open 105.813  Change 0.047

Treasuries:

 

5 Year: Previous Close 100.313  Open 100.344  Change 0.031  Yield 0.805

10 Year: Previous Close 100.750  Open 100.813  Change 0.063  Yield 1.908

30 Year: Previous Close 100.281  Open 100.438  Change 0.156  Yield 3.103


Key Economic Data:

 

EUR/USD: Previous Close 1.3241  Open 1.3271 Change 0.0030

GBP/USD: Previous Close 1.6234  Open 1.6236 Change 0.0002

USD/JPY: Previous Close 79.80  Open 79.810  Change 0.0100

Gold: Previous Close 1663.40 Open 1670.50 Change 7.10

Oil: Previous Close 104.87 Open 104.63 Change -0.24

 


Key Economic News:

 

ICSC chain stores

Week-on-week: Actual -0.3%, Last 0.8%.

Year-on-year: Actual 4.2%, Last 3.6%.

Redbook

Week-on-week: Actual -0.2%, Last -0.1%.

Year-on-year: Actual 2.9%, Last 2.7%.

7:00: Construction spending for Mar: Consensus 0.5%, Last -1.1%.

7:00: ISM Manufacturing PMI for Apr: Consensus 53.0, Last 53.4.

7:30: Texas service sector outlook for Apr: Last 18.9.

7:30: Dallas Fed Services Reve for Apr: Last 16.5.

 

Advice:

 

The market is creeping up from the open, unless we get a big surprise from Construction spending later this morning I would expect the market to continue on the same course. But I’m starting to getting concerned by the possibility of a trader induced short position correction.

 

My position on MBS stays neutral.

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

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

 

What People Are Saying About Jason Gordon

 Not all Mortgage Lenders are alike! Find out what Clients, Real Estate Agents and other Financial & Legal Professionals have to say about Jason Gordon.

 

 

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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 01 2012 07:13AM
Mortgage Rate Update 5-1-12: Trends, Projections & Todays Lowest…
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Do you ever wonder how so many Banks can each claim to have the best mortgage rates on the same day? This is clearly an example of clever advertising designed to lure you in to making unsound buying decisions. Before making a commitment to work with… more