Daily Mortgage Interest Rate Updates, Trends & Projections: Mortgage Rate Update 8-16-13: Trends Projections & Today's Best Rates

Mortgage Rate Update 8-16-13: Trends Projections & Today's Best Rates

Housing Starts came in close to expectations, while Productivity Data came in higher than expected and Consumer Sentiment lower. There was little reaction to the news. Overall, rates have been on a rough trend, with more forecasted in the coming days.

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 Friday 8-16-2013 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 Thursday with an IMPROVEMENT to pricing.  Thursday's IMPROVEMENT netted a change of 16 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 Best 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 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 Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary (Neil Trennery)


FNMA 30-Year:
3.0 Coupon: Open 95.4063 Change -0.0781
3.5 Coupon: Open 99.5781 Change -0.0313
4.0 Coupon: Open 103.0313 Change -0.0313


5 Year: Open 99.2969 Change -0.0136 Yield 1.5230
10 Year: Open 97.6406 Change -0.0625 Yield 2.7740
30 Year: Open 96.5625 Change -0.2188 Yield 3.8180


Key Economic Data
EUR/USD: Open 1.3370 Change 0.0023
GBP/USD: Open 1.5649 Change -0.0004
USD/JPY: Open 97.330 Change -0.010
Oil: Open 107.35


Key Economic Data:
Housing starts for Jul: Actual 0.896m, Consensus 0.900m, Last 0.836m, Revised 0.846m.
Building permits for Jul: Actual 0.943m, Consensus 0.945m, Last 0.911m, revised 0.918m.
Productivity Prelim for Q2: Actual 0.9%, Consensus 0.6%, Last 0.5%, Revised -1.7%.
Labor costs Prelim for Q2: Actual 1.4%, Consensus 1.2%, Last -4.3%, Revised -4.2%.
6:55: Univ of Michigan for Aug
Sentiment: Consensus 85.5, Last 85.1.
Conditions: Consensus 98.0, Last 98.6.
Expectations: Consensus 76.0, Last 76.5.
7:30: ECRI weekly index: Last 131.8.


Treasury 10-year yields were set for their biggest weekly increase in more than a month as a report showed new-home construction in the U.S. climbed in July. Benchmark 10-year yields rose to the highest in more than two years yesterday amid speculation improvement in the worlds biggest economy will lead the Federal Reserve to slow its debt-purchase program. The Bloomberg Global Developed Sovereign Bond Index has fallen 5 percent this year, while yields were at the highest in at least a month for 17 of 24 developed markets tracked by Bloomberg. The numbers are a little bit on the weak side, but not enough to change the mentality of the market right now, said Jason Rogan, director of U.S. government trading at Guggenheim Partners LLC, a New York-based brokerage for institutional investors. For right now the market has made up its mind in going to higher yields.


Completing going Long,


My position on MBS stays Neutral.


Market Commentary (Dan Rawitch)

More good economic news and more downward pressure on bonds. I suspect we test the previous lows while we wait for some bond friendly news.


Here is today's video:

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 1 commentJason E. Gordon • August 16 2013 09:42AM


Jason - Thank you for sharing another excellent blog about mortgage rate update August 16, 2013 trends & projectons.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) almost 7 years ago