Daily Mortgage Interest Rate Updates, Trends & Projections: Mortgage Rate Update: 10-12-16: Trends & Projections

Mortgage Rate Update: 10-12-16: Trends & Projections

Pricing is at its HIGHEST POINT in the last 3 months as of today! The JOLTS report showed 5.44M job openings in August, down from the previous reading. 

Compared to Tuesday's closing, the market has opened with a 0.125 WORSENING to the Points/Credits associated with any given interest rate option.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Professionals 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 Wednesday 10-12-2016 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 NEUTRAL RESULT to pricing. Tuesday's NEUTRAL RESULT netted a change of 0 basis points (bps).

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

Best San Diego Mortgage Rates - Jason Gordon - AmeriFIrst Financial - www.GordonMortgage.com The following chart summarizes today's market activity:

Best San Diego Mortgage Rates - Jason Gordon - AmeriFIrst Financial - www.GordonMortgage.com

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

Best San Diego Mortgage Rates - Jason Gordon - AmeriFIrst Financial - www.GordonMortgage.com

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

Best San Diego Mortgage Rates - Jason Gordon - AmeriFIrst Financial - www.GordonMortgage.com

The following chart shows market activity over the past 3 months:

Best San Diego Mortgage Rates - Jason Gordon - AmeriFIrst Financial - 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 scenario involving a 740+ credit score, 25% down payment, owner occupied, single family residence, with impound account, with a loan amount up to $417,000 to accompany this pricing.

It bears noting that this chart does not necessarily represent today's best mortgage rates.

 Best San Diego Mortgage Rates - Jason Gordon - AmeriFIrst Financial - www.GordonMortgage.com


Beware of relying on Interest Rate Quotes like the one above!  



Market Commentary (Neil Trennery)

Market Update

FNMA in 32s
Cpn 2.5 Chg -0.045 Bid 99.281
Cpn 3.0 Chg -0.020 Bid 103.02
Cpn 3.5 Chg -0.01+ Bid 105.001

Treasury in 32s
UST 5 YR Chg -0.082 Bid 99.040 Yield 1.3060
UST 10 YR Chg -0.060 Bid 97.136 Yield 1.7851
UST 30 YR Chg -0.042 Bid 94.17+ Yield 2.5100

Bank Rates
Discount 1.00%
Fed Funds 0.50%
Prime 3.50%

Euro Bid 1.10107
Pound Bid 1.21870
Yen Bid 103.914

10:00: 3yr & 10yr Treasury Auctions.
11:00: FOMC Minutes.

Source Bloomberg
Treasuries fell for a second day, pushing the 10-year note yield to the highest in four months, before the U.S. auctions $44 billion of securities on Wednesday. Investors preparing for faster inflation and a Federal Reserve rate increase have sent long-term Treasuries reeling this month, with those due in a decade and more handing investors a 2.65 percent loss in October, headed for their steepest monthly decline in more than a year, Bloomberg World Bond Indexes show. Government securities have fallen around the world this month, as the U.S., Japan and Australia all sell long-term debt. Investors can expect a "somewhat significant" increase in nominal bond yields, Mike Swell, co-head of global portfolio management for fixed income at Goldman Sachs Asset Management in New York, said in an interview on Bloomberg Television Tuesday. The benchmark U.S. 10-year note yield rose two basis points, or 0.02 percentage point, to 1.79 percent as of 7:57 a.m. in New York, according to Bloomberg Bond Trader data. Thats the highest since June. The price of the 1.5 percent security due in August 2026 fell 6/32, or $1.86 per $1,000 face amount, to 97 14/32. The U.S. will auction $24 billion of three-year notes and $20 billion of 10-year debt on Wednesday, followed by another $12 billion of 30-year bonds on Thursday.
Inflation Outlook
The difference between yields on U.S. 10-year notes and similar-maturity Treasury Inflation Protected Securities, a gauge of expectations for consumer prices, expanded to as much as 1.69 percentage points on Tuesday, approaching the Feds
inflation target of 2 percent. The spread has increased from as little as 1.12 in February. U.S., Japanese and European central bankers have resorted to unprecedented monetary stimulus to try to boost inflation in their economies. Europe and Japan are using negative interest rates, while the Fed has raised its benchmark rate only once since cutting it to a record low near zero in 2008. The Fed is scheduled to publish the minutes of its September policy meeting Wednesday. Rising oil prices are feeding forecasts for consumer prices to rise, with crude oil climbing to its highest closing level this week in more than a year. Inflation in the Group of Eight nations will be 1 percent this year and 1.9 percent in 2017, based on Bloomberg surveys of economists. The figure was as high as 3.75 percent in 2008.

My position on MBS:

Short term Stays Short.
Long term Stays Short.

Long = I anticipate pricing to improve which leads to lower Rates.
Neutral = Market should stay close to open plus or minimums 25bps.
Short = I anticipate pricing to weaken which leads to higher Rates.

Short term = 1 - 2 days out
Long term = 30+ days out

Market Commentary (Dan Rawitch)

The ten year is now trading at multi month highs, just under 1.80%. The MBS market is falling alongside the treasury market and had a gap down opening. To complicate things, we had a bond rollover at the close yesterday, so the chart looks even uglier than its ugly self. Think of 103.00 as 103.20 due to the rollover and realize that we must hold that level. I want to say that we will, but I am fearful that we have two seperate demands on bond supply hitting at the same time the fed minutes are released today and this makes me nervous. Today there is both a 3 year and a 10 year auction hitting the market and I hate the timing. If those auctions see weak demand, we could see a significant sell off, so lets hope for no surprises in the FED minutes and strong auction results. http://www.ratewatch.com/ratewatchnow.html 


2016 Economic Forecast (Barry Habib)


Trusted Industry Advisor

Jason Gordon Mortgage - www.GordonMortgage.com

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason 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 and/or The TBWS Group.

As a Certified Mortgage Planning Specialist (CMPS) Certified Distressed Property Expert (CDPE) Certified Mortgage Coach (CMC), and Certified Military Housing Specialist (CMHS), 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.CrossApproval.com or more information.

Click here for daily mortgage interest rate updates and projections for San Diego's best mortgage interest 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



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Comment balloon 0 commentsJason E. Gordon • October 12 2016 02:03PM