Daily Mortgage Interest Rate Updates, Trends & Projections: California: San Diego: Mission Valley

Mortgage Rate Update 7-15-13: Trends Projections & Today's Best Rates

Bad numbers for Retail Sales have equated to a nice rally for mortgage rates thus far this morning. We are currently +22 bps for the day.

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 over 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...share this report with those whom you care about!

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 Monday 7-15-2013 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 Friday with a WORSENING to pricing.  Friday's WORSENING netted a change of 19 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 Best 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 Best Mortgage Rates - Jason E Gordon - www.JasonGordon.info

The following chart shows market activity over the past 1 month:

 Today's Best Mortgage Rates - Jason E Gordon - www.JasonGordon.info

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 Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary (Neil Trennery)

FNMA 30-Year:
2.5 Coupon: Open 92.0469 Change 0.1719
3.0 Coupon: Open 96.5938 Change 0.1875
3.5 Coupon: Open 100.3594 Change 0.0156
4.0 Coupon: Open 103.2656 Change 0.0156
 
Treasuries:
5 Year: Open 99.8750 Change 0.1094 Yield 1.4010
10 Year: Open 92.8906 Change 0.1406 Yield 2.5750
30 Year: Open 86.2969 Change 0.0938 Yield 3.6310
 
Key Economic Data
EUR/USD: Open 1.3044 Change -0.0023
GBP/USD: Open 1.5092 Change -0.0013
USD/JPY: Open 100.090 Change 0.880
Oil: Open 105.43

Key Economic Data:
NY Fed manufacturing for Jul: Actual 9.46, Consensus 5.00, Last 7.84.
Retail sales for Jun:
Sales: Actual 0.4%, Consensus 0.8%, Last 0.6%.
Ex-autos: Actual 0.0%, Consensus 0.4%, Last 0.3%.
Ex-autos/gas: Actual -0.1%, Last 0.3%.
7:00: Business inventories for May: Last 0.3%.
 
Advice:
Treasuries erased a drop after retail sales rose less than projected in June, underscoring a
second-quarter slowdown in the U.S. economy.

My position on MBS stays Long.

Market Commentary (Dan Rawitch)

 
A bit of mixed news this morning, however...it is more bond friendly than not. Retail Sales was a HUGE dissapointment to bonds and is what is mostly driving the price improvements we are currently seeing. I'd look for a test of 101.00 in the very near future. We want to carefully watch what happens as we touch 101, this will tell you if we have the velocity to continue to the top of that range, which will be 102.00
 
Just be careful...this market is still mean, ugly and volatile!

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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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 1 commentJason E. Gordon • July 15 2013 08:06AM
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