Daily Mortgage Interest Rate Updates, Trends & Projections: California: San Diego: Rancho Penasquitos

Mortgage Rate Update 8-21-13: Trends Projections & Today's Best Rates

After a slight improvement to rates yesterday, we appear to be sliding back down in early trading.  Existing Home Sales came in stronger than expected. The market is off 13 bps, and today's FOMC Minutes might be a market mover.

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 Wednesday 8-21-2013 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 Tuesday with an IMPROVEMENT to pricing.  Tuesday's IMPROVEMENT netted a change of 22 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 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 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 Mortgage Rates - Jason E Gordon - www.JasonGordon.info

Market Commentary (Neil Trennery)

FNMA 30-Year:
3.0 Coupon: Open 94.7813 Change -0.2031
3.5 Coupon: Open 98.9375 Change -0.1875
4.0 Coupon: Open 102.4375 Change -0.1406
 
Treasuries:
5 Year: Open 99.0859 Change -0.1094 Yield 1.5680
10 Year: Open 97.0156 Change -0.2188 Yield 2.8440
30 Year: Open 95.4531 Change -0.5000 Yield 3.8830
 
Key Economic Data
EUR/USD: Open 1.3377 Change -0.0038
GBP/USD: Open 1.5685 Change 0.0018
USD/JPY: Open 97.580 Change 0300
Oil: Open 105.04
 
Key Economic Data:
Mortgage Market
Index: Actual 450.4, Last 471.9.
Refinance: Actual 1979.6, Last 2145.3.
Purchase: Actual 184.9, Last 182.7.
30-yr Rate: Actual 4.68%, Last 4.56%.
7:00: Existing home sales for Jul: Consensus 1.6%, Last -1.2%.
 
Advice:
Treasury 10-year note yields approached the highest level in two years before the Federal Reserve releases minutes of its July meeting that may contain signals on when policy makers plan to curtail monetary stimulus. Benchmark 10-year yields were higher before an industry report that economists said will show existing home sales increased last month. Treasuries advanced yesterday as speculation a withdrawal of stimulus will hurt emerging-market economies stoked demand for the safety of U.S. government debt. Chinas manufacturing contracted at a slower pace this month, analysts said before the data tomorrow. We will get some more details on the Feds thinking in the minutes, said Vincent Chaigneau, global head of rates and foreign-exchange strategy at Societe Generale SA in Paris. The focus may still be on emerging markets, and in particular in Asia, where we have the Chinese PMI tomorrow. If there is disappointment there, it could bring some near-term support to Treasuries.
 
My position on MBS stays Neutral.

Market Commentary (Dan Rawitch)

Oddly, the crash of the Indian Rubee remained quiet yesterday and the DOW showed no reaction. Bonds however did rally and we got a nice bounce off of the bottom.
 
Today we learned that existing home sales came in a little lower than expected and Mortgage apps dropped AGAIN, this time another 4.7%.
 
The market is waiting on pins and needles to hear the FOMC minutes later today. Technically, the close above 99 was bullish, if we can hold that and the FED trys again to get the markets mind off of tapering, we should get a bigger bounce. On the other hand, he could say something harmful and all bets are off. Stay alert and have a great day!

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

Sr. Mortgage Loan Officer

CMPS, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

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Comment balloon 0 commentsJason E. Gordon • August 21 2013 09:32AM
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