Have you taken a moment to learn THE TRUTH BEHIND MORTGAGE QUOTES? Please enjoy the report below to help you better prepare yourself for what to expect with mortgage rates moving forward. Once you allow yourself to be equipped with the facts, you will be better suited to make strong financial decisions for your family in relation to your largest personal debt...your mortgage.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Monday 4-16-2012 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 Friday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's IMPROVEMENT resulted in a change of 9 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 100.422 Open 100.406 Change -0.016
3.5 Coupon: Previous Close 103.422 Open 103.453 Change 0.031
4.0 Coupon: Previous Close 105.469 Open 105.500 Change 0.031
5 Year: Previous Close 100.703 Open 100.695 Change -0.008 Yield 0.856
10 Year: Previous Close 100.016 Open 100.063 Change 0.047 Yield 1.993
30 Year: Previous Close 99.547 Open 99.672 Change 0.141 Yield 3.141
Key Economic Data:
EUR/USD: Previous Close 1.3065 Open 1.3046 Change -0.0019
GBP/USD: Previous Close 1.5851 Open 1.5837 Change -0.0013
USD/JPY: Previous Close 80.890 Open 80.710 Change 0.1800
Gold: Previous Close 1659.10 Open 1652.30 Change -6.80
Oil: Previous Close 102.83 Open 103.00 Change 0.17
Key Economic News:
Retail sales for Mar
Month-on-month: Actual 0.8%, Consensus 0.3%, Last 1.1%.
Ex-Autos month-on-month: Actual 0.7%, Consensus 0.6%, Last 0.9%.
Foreign buying of T-bonds for Feb: Actual 15.35b, Last 83.0b.
Overall net capital flow: Actual 107.7b, Last 18.8b.
7:00: Business inventories for Feb: Consensus 0.6%, Last 0.7%.
7:00: NAHB housing market index for Apr: Consensus 28, Last 28.
Unless we get a surprise from Business Inventories or NAHB housing market index. I would expect it to be a quiet day for MBS market, the 3.0 cpn to stay around the 100.500 mark.
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
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
CMA, CMPS, CDLP, CDRE, RCS-D, CDPE, CMHS, CMC, NMLS 259027
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