Daily Mortgage Interest Rate Updates, Trends & Projections: Mortgage Rate Update 6-12-13: Trends Projections & Today's Best Rates

Mortgage Rate Update 6-12-13: Trends Projections & Today's Best Rates

We had a long-overdue correction to mortgage pricing yesterday with a 60 basis point improvement. Thus far, we have had an fairly volatile morning for Mortgage Backed Securities.

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 Wednesday 6-12-2013 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 a SIGNIFICANT IMPROVEMENT to pricing.  Tuesday's SIGNIFICANT IMPROVEMENT netted a change of 60 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 Mortgage Rates - Jason E Gordon - www.JasonGordon.info

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 95.6563 Change -0.1250
3.0 Coupon: Open 99.9219 Change -0.0938
3.5 Coupon: Open 102.9844 Change -0.0938
5 Year: Open 99.3750 Change -0.0859 Yield 1.1300
10 Year: Open 95.8750 Change -0.2188 Yield 2.2140
30 Year: Open 91.1875 Change -0.4688 Yield 3.3460
Key Economic Data
EUR/USD: Open 1.3290 Change -0.0021
GBP/USD: Open 1.5670 Change -0.0025
USD/JPY: Open 96.460 Change 0.450
Oil: Open 95.76
Key Economic Data:
Mortgage Market
Index: Actual 670.7, Last 638.7.
Purchase: Actual 217.0, Last 207.3.
Refinance: Actual 3322.3, Last 3163.5.
30-yr Rate: Actual 4.15%, Last 4.07%.
11:00: Federal budget for May: Consensus -110.0b, Last 112.9b.
Unless we see a big surprises from the Federal budget, again I expect the market to sell off.
My position on MBS changes to Short.
(3.00cpn July @ 99*9/32)


Market Commentary (Dan Rawitch)


No reai news today...but the technicals are firming up a bit. I'd love to see a higher low and a higher over yesterday, thus forming a nice reverse head and shoulders number. Throw in a good 10 year auction later today...and we couild start to see a turn around here. Look for bigger news starting tomorrow and what to see if our head and shoulders reverses. We need to establish a solid bottom before we can test the top.


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



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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Comment balloon 0 commentsJason E. Gordon • June 12 2013 09:55AM