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

Mortgage Rate Update 6-28-13: Trends Projections & Today's Best Rates

Mortgage Backed Security (MBS) prices began today's session near yesterday's closing levels, but a quick burst of selling sent MBS sharply lower. It has been a volatile session throughout the day thus far.  Consumer Sentiment also came in above expectations.

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 Friday 6-28-2013 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 Thursday with a SIGNIFICANT IMPROVEMENT to pricing.  Thursday's SIGNIFICANT IMPROVEMENT netted a change of 43 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 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 (Neil Trenerry)

FNMA 30-Year:
2.5 Coupon: Open 92.4844 Change -0.5625
3.0 Coupon: Open 97.2500 Change -0.4063
3.5 Coupon: Open 101.0781 Change -0.3594
4.0 Coupon: Open 103.8438 Change -0.2344

 

Treasuries:
5 Year: Open 99.7266 Change -0.2266 Yield 1.4340
10 Year: Open 93.2188 Change -0.4688 Yield 2.5300
30 Year: Open 87.3125 Change -0.5781 Yield 3.5690

 

Key Economic Data
EUR/USD: Open 1.3062 Change 0.0027
GBP/USD: Open 1.5233 Change -0.0024
USD/JPY: Open 98.950 Change 0.590
Oil: Open 97.14

 

Key Economic Data:
6:45: Chicago PMI for Jun: Consensus 56.0, Last 58.7.
6:55: Univ of Michigan Final for Jun
Sentiment: Consensus 82.8, Last 82.7.
Condition: Consensus 92.8, Last 92.1.
Expectation: Consensus 77.0, Last 76.7.
1-yr Inflation: Last 3.2%.
5-yr Inflation: 3.0%.
7:30: ECRI weekly index: Last 130.3.

 

Advice:
Unless we get a big surprises from Univ of Michigan numbers, I expect the market to sell off today as traders protect there positions.

 

My position on MBS changes to Neutral.

 

(FNMA 3.00 Jul - Sold @ 99*31 bought back @ 97*08 )

 

Market Commentary (Dan Rawitch)


Mixed news today. Chicago PMI, worse than expected but consumer confidence better than expected.

I'm still looking for this upward trend to carry us to 102.00. From there, we will see! Overall, I am looking for 103.50, which is a 50% correction.

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

 

What People Are Saying 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

 

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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 2 commentsJason E. Gordon • June 28 2013 12:05PM
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