Daily Mortgage Interest Rate Updates, Trends & Projections: Mortgage Rate Update 2-6-14: Trends & Projections

Mortgage Rate Update 2-6-14: Trends & Projections

After declines yesterday, it has been a quiet morning ahead of tomorrow's Employment report. Weekly Jobless Claims dropped to 331K, which was very close to expectations. Fourth quarter Productivity rose to 3.2%, above the consensus of 2.5%. The December Trade Deficit was larger than expected. The European Central Bank (ECB) made no change in rates. The Dow is up 150 points. No more economic data will be released today. 

As a result of the above economic activity, pricing has opened 0.125 / 0.250 WORSE to the points/credits associated with each interest rate option.

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!

San Diego Mortgage Rates - Jason Gordon - www.JasonGordonMortgage.com

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Thursday 2-6-2014 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 a SIGNIFICANT WORSENING to pricing. Wednesday's SIGNIFICANT WORSENING netted a change of 31 basis points (bps).

(Note: Upward activity on these charts is GOOD, downward activity is BAD)

Best Mortgage Rates in San Diego - www.GordonMortgage.com

The following chart summarizes todays market activity:

Best Mortgage Rates in San Diego - www.GordonMortgage.com

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

 Best Mortgage Rates in San Diego - www.GordonMortgage.com

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

Best Mortgage Rates in San Diego - www.GordonMortgage.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.

Best Mortgage Rates in San Diego - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

FNMA
Cpn 3.0 Chg -0.0938 Bid 97.00000
Cpn 3.5 Chg -0.0781 Bid 101.26563
Cpn 4.0 Chg -0.0313 Bid 104.64063
 
Treasury
UST 5 YR Chg -0.0781 Bid 99.96064 Yield 1.5080
UST 10 YR Chg -0.0938 Bid 100.57813 Yield 2.6820
UST 30 YR Chg -0.0156 Bid 101.78125 Yield 3.6530
Currency
Euro Bid 1.3613 Chg 0.0083
Pound Bid 1.6310 Chg 0.0002
Yen Bid 101.340 Chg -0.090
Light Crude
Last 98.53
 
Key Economic Data:
Challenger layoffs for Jan: Actual 45.107k, Last 30.623k, Revised 30.623k.
International trade for Dec: Actual -38.70b, Consensus -36.0b, Last -34.3b, Revised -34.56b.
Unemployment
Initial jobless claims: Actual 331k, Consensus 335k, Last 348k, Revised 351k.
Jobless claims 4-wk avg: Actual 334.00k, Last 333.00k, Revised 333.75k.
Continued jobless claims: Actual 2.964m, Consensus 2.998m, Last 2991m, Revised 2.948m.
Productivity Perlim for Q4: Actual 3.2%, Consensus 2.5%, Last 3.0%, Revised 3.6%.
Labor costs Prelim for Q4: -1.6%, Consensus -0.5%, Last -1.4%, revised -2.0%.
 
Advice:
My position on MBS
Short term Neutral.
Long term changes to Neutral
I had expected the economy to start to pick up by now.

Market Commentary (Dan Rawitch)

A big gap down opening is putting bonds to a test, we are now sitting upon the bottom of the channel. My guess is we hold today and wait for tomorrows employment report, although we could see a brief panic attack and dip below the line at some point today. What matters is that we close about the line, and I think we will....at least until we see tomorrows numbers.
 

Trusted Industry Advisor

San Diego Mortgage Rates - Jason Gordon - www.JasonGordonMortgage.com

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.GordonMortgage.com 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

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

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

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

 

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Comment balloon 0 commentsJason E. Gordon • February 06 2014 01:59PM

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