Daily Mortgage Interest Rate Updates, Trends & Projections: Mortgage Rate Update 1-28-13: Trends Projections & Today's Best Rates

Mortgage Rate Update 1-28-13: Trends Projections & Today's Best Rates

We continue the disturbing trend of increasing mortgage rates starting a whopping 36 basis points worse than Friday's close (which was a negative 30 basis points for that day). Is the stock market overreacting to hints of recovery?

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 Monday 1-28-2013 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 Friday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's WORSENING netted a change of 30 basis points (bps).

(hint: upward activity is good, downward activity is bad)

Lowest Mortgage Interest Rates in San Diego - Jason Gordon - www.ApprovingSD.com

The following chart shows the activity thus far for today:

Lowest Mortgage Interest Rates in San Diego - Jason Gordon - www.ApprovingSD.com

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

Lowest Mortgage Interest Rates in San Diego - Jason Gordon - www.ApprovingSD.com

The following chart shows market activity over the past 1 month:

Lowest Mortgage Interest Rates in San Diego - Jason 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.

 Lowest Mortgage Interest Rates in San Diego - Jason Gordon - www.ApprovingSD.com

Market Commentary

Market Analyst: Neil Trenerry

FNMA 30-Year:
2.5 Coupon: Open 99.4375 Change -0.5469
3.0 Coupon: Open 103.2094 Change -0.3594
3.5 Coupon: Open 105.3125 Change -0.2500

5 Year: Open 99.3358 Change -0.1875 Yield 0.8880
10 Year: Open 96.1888 Change -0.4063 Yield 1.9950
30 Year: Open 91.9375 Change -0.6375 Yield 3.1700

Key Economic Data:
EUR/USD: Open 1.3471 Change 0.0009
GBP/USD: Open 1.5739 Change -0.0064
USD/JPY: Open 90.910 Change -0.020
Oil: Open 96.78

Key Economic Data:
Durable goods for Dec
Index: Actual 4.6%, Consensus 1.8%, Last 0.8%.
Ex-transport: Actual 1.3%, Consensus 0.7%, Last 1.6%.
Ex-defense: Actual 1.2%, Consensus 1.2%, Last 0.8%.
Midwest manufacturing for Dec: Actual 94.7, Last 93.7.
7:00: Pending home sales for Dec: Last 106.4.
7:30: Dallas fed Mfg Bus Index for Jan: Last 6.80.

Orders for durable goods climbed more than forecast in December, showing U.S. manufacturing rebounded following a mid-year slump. Bookings for goods meant to last at least three years rose 4.6%, exceeding the highest forecast of economists surveyed by Bloomberg, after a 0.7% gain in November, a Commerce Department report showed today in Washington. The median forecast of 76 economists surveyed by Bloomberg called for a 2% advance. Excluding demand for transportation equipment, which is often volatile, orders increased 1.3%, also beating the median projection. Improving auto sales and a rebound in housing are underpinning the economic expansion, indicating orders will keep coming in for manufacturers from General Electric Co. to DuPont Co. Faster growth in overseas markets and an agreement in Congress to avoid automatic government-spending cuts would help lift business confidence and spur greater investment. Economic activity has continued to expand, Carl Riccadonna, a senior U.S. economist at Deutsche Bank Securities Inc. in New York, said before the report. We should see further gains in capital expenditure this year. Estimates in the Bloomberg survey ranged from a decrease of 1.4% to a 4.5% advance. Stock-index futures held gains after the figures, with the contract on the Standard & Poors 500 Index expiring in March rising 0.2% to 1,499.1 at 9:04 a.m. in New York. Excluding transportation, orders were projected to climb 0.%.

My position on MBS stays Long.

I believe this to be a short term bump in the road, and a good opportunity to average down on the long position.

Market Analyst: Barry Habib

To view this market update video please click - http://www.mbshighway.com/members/daily-updates

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.

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



Gordon Mortgage Group - AmeriFirst Financial Inc.


Office: 619-200-8031

Email: jgordon@amerifirst.us



11440 W. Bernardo Court, Ste. 300, San Diego, CA 92127


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Gordon Mortgage Group - AmeriFirst Financial


Licensed by the Department of Corporations under the California Residential Mortgage Lending Act.

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 • January 28 2013 07:56AM