Daily Mortgage Interest Rate Updates, Trends & Projections: Mortgage Rate Update 11-15-12: Trends Projections & Today's Best Rates

Mortgage Rate Update 11-15-12: Trends Projections & Today's Best Rates

Yesterday was a rocky day as rates bounced all over the charts. The end result was an improvement of 12 basis points.  In early trading today, we have improved an additional 6 basis points.

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.  Also, make sure to learn about 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.

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 Thursday 11-15-2012 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 Wednesday with an  IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Wednesday's IMPROVEMENT netted a change of 12 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 market activity thus far 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)

 

Market Update
FNMA 30-Year:
2.5 Coupon: Open 102.000 Change -0.063
3.0 Coupon: Open 104.766 Change -0.016
3.5 Coupon: Open 106.266 Change -0.016


Treasuries:
5 Year: Open 100.570 Change -0.055 Yield 0.633
10 Year: Open 100.141 Change -0.188 Yield 1.610
30 Year: Open 100.078 Change -0.359 Yield 2.746


Key Economic Data:
EUR/USD: Open 1.2733 Change 0.0041
GBP/USD: Open 1.5840 Change 0.0014
USD/JPY: Open 80.220 Change 1.020
Oil: Open 86.60 Change 0.28

Key Economic Data:
CPI
Month-on-month: Actual 0.1%, Consensus 0.1%, Last 0.6%.
Year-on-year: Actual 2,2%, Consensus 2.1%, Last 2.0%.
Core month-on-month: Actual 0.2%, Consensus 0.1%, Last 0.1%.
Core year-on-year: Actual 2.0%, Consensus 2.0%, Last 2.0%.
Unemployment
Initial jobless claims: Actual 439k, Consensus 375k, Last 355k.
Jobless claims 4-week average: Actual 282.75k, Last 370.5k.
Continued jobless claims: Actual 3.334m, Consensus 3.210m, Last 3.127m.
7:00: Philly Fed business index for Nov: Consensus 2.0, Last 5.7.
15:00: SEMI book/bill ratio: Last 0.81.


Advice:
More Americans than forecast submitted claims for unemployment insurance last week as superstorm Sandy also wreaked havoc on the job market. Applications for jobless benefits surged by 78,000 to 439,000 in the week ended Nov. 10, the most since April 2011, the Labor Department said today in Washington. Several states said the increase was due to the storm that hit the Northeastern part of the U.S. in late October, a Labor Department spokesman said as the data were released to the press. The extent of the damage means it may take weeks for the underlying trend in firings to again become clear. Before the storm, the labor market was gaining momentum even as year-end domestic fiscal policy uncertainties raised concern among businesses. Based on previous extreme-weather episodes, we typically see the associative claims coming in over several weeks, Jim OSullivan, chief U.S. economist for High Frequency Economics Ltd. in Valhalla, New York, said before the report. Its not a booming labor market, but it is a recovering labor market. Certainly prior to the storm, there was no sign that there was any deterioration. Sandy struck the Northeast region, including New York and New Jersey, as it came ashore Oct. 29, and those who lost their jobs because the storm shuttered businesses may keep filing claims in coming weeks.


My position on MBS stays Long.

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. 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

CMPS, CDLP, RCS-D, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

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Attention Real Estate Agents!

 Ever heard of a Lender having more "skin in the game" during escrow than a Buyer? Ever wish a Lender would put their money where their mouth is? Learn how the Protect Your Transaction (PYT) program will improve the negotiation leverage for a Buyer, as well as how PYT benefits the Seller & Realtors in this short video.

 

 

 

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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 0 commentsJason E. Gordon • November 15 2012 08:08AM

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