Daily Mortgage Interest Rate Updates, Trends & Projections: California: San Diego: Ocean Beach

Mortgage Rate Update 6-4-13: Trends Projections & Today's Best Rates

The bizarre activity of the past few weeks continued yesterday with another rollercoaster ride for interest rates.  The morning opened terrible, dramatically improved, then managed to end up nearly where it began when all of the smoke cleared.  All eyes will be on the employment numbers this week to help determine which direction we can expect to trend moving forward.

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 Tuesday 6-4-2013 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 Monday with an IMPROVEMENT to pricing.  Monday's IMPROVEMENT netted a change of 6 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 Mortgage Rates - Jason E Gordon - www.JasonGordon.info

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

 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 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 Best Mortgage Rates - Jason E Gordon - www.JasonGordon.info

Market Commentary (Neil Trenerry)

FNMA 30-Year:
2.5 Coupon: Open 95.1563 Change -0.0469
3.0 Coupon: Open 100.4063 Change -0.0469
3.5 Coupon: Open 103.3750 Change -0.0781

 

Treasuries:
5 Year: Open 99.8203 Change -0.0313 Yield 1.0390
10 Year: Open 96.5781 Change -0.0469 Yield 2.1340
30 Year: Open 92.2344 Change -0.3125 Yield 3.2850

 

Key Economic Data
EUR/USD: Open 1.3064 Change -0.0013
GBP/USD: Open 1.5285 Change -0.0037
USD/JPY: Open 100.210 Change 0.700
Oil: Open 93.19

 

Key Economic Data:
ICSC chain stores
Week-on-week: Actual 1.9%, Last -0.9%.
Year-on-year: Actual 4.3%, Last 2.8%.
International trade for Apr: Actual -40.29, Consensus -41.0b, Last -38.8b, Revised -37.13b.
Redbook
Month-on-month: Actual 0.6%, Last 0.6%.
Year-on-year: Actual 2.9%, Last 2.7%.
6:45; ISM-New York index for May: Last 577.4.
7:00: IBD economic optimism for Jun: Last 45.1.

 

Advice:
With todays news, I expect the market to remain on the weak side until the unemployment numbers come out.

 

My position on MBS stays neutral.

 

Market Commentary (Dan Rawitch)

 

 

Bonds are still testing the bottom. At some point, the floor weakens and we should assume it will hold. I am waiting for the ten year stocastic indicator to turn down below 80, before calling the bottom. As I have always told you, oversold markets tend to remain oversold, until the dont.

 

Later this week, the news becomes more meaningful...I would expect some volitility around the employment numbers.

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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Comment balloon 2 commentsJason E. Gordon • June 04 2013 09:15AM
Mortgage Rate Update 6-4-13: Trends Projections & Today's Best…
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The bizarre activity of the past few weeks continued yesterday with another rollercoaster ride for interest rates. The morning opened terrible, dramatically improved, then managed to end up nearly where it began when all of the smoke cleared. All… more