Who do you know who would like to learn THE TRUTH BEHIND MORTGAGE QUOTES before signing their final loan documents? Remember that knowledge is power and the purpose of these reports is to equip you to make the best possible financial decisions for your family. Mortgage companies and Banks spend millions of dollars each month in an effort to confuse the general public about mortgage rates and closing costs.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Friday 4-20-2012 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 an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's IMPROVEMENT resulted in a change of 3 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 100.688 Open 100.641 Change -0.047
3.5 Coupon: Previous Close 103.656 Open 103.484 Change -0.172
4.0 Coupon: Previous Close 105.625 Open 105.516 Change -0.109
5 Year: Previous Close 100.805 Open 100.695 Change -0.109 Yield 0.856
10 Year: Previous Close 100.422 Open 100.125 Change -0.297 Yield 1.986
30 Year: Previous Close 100.297 Open 99.594 Change -0.703 Yield 3.146
Key Economic Data:
EUR/USD: Previous Close 1.3134 Open 1.3186 Change 0.0054
GBP/USD: Previous Close 1.6053 Open 1.6107 Change 0.0054
USD/JPY: Previous Close 81.600 Open 81.650 Change 0.0500
Gold: Previous Close 1640.60 Open 1644.80 Change 4.20
Oil: Previous Close 102.27 Open 103.89 Change 1.62
Key Economic News:
7:30: ECRI weekly index: Last 125.7. Annualized: Last 1.4%.
With no help from news for direction, and the Dollar off against major currencies. I would expect the market to stay flat thru the day.
My position on MBS stays neutral.
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
Attention Real Estate Agents!
(click the video below to learn about my "Preferred Realtor Partner" marketing technology)
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, CMC, NMLS 259027
To see if you qualify (and to obtain a current market interest rate quote), click here for a secure online loan application form.
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.