Introducing an easy-to-follow inside look at mortgage rate activity, featuring charts, rate sheets, market commentary, and even video recordings all in one daily article! All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why).
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Monday 6-20-2011 and will help you understand todays 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 an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's IMPROVEMENT resulted in a change of 9 basis points (bps).
The following chart shows the market activity for today (hint: upward activity is good, downward activity is bad):
The following chart shows market activity over the past 10 days (hint: green is good, red is bad):
The following chart shows market activity over the past 1 month:
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.
Market Commentary
Analyst #1 (Neil Trenerry):
FNMA 30-Yr 4.0%
Previous close 100.719
Opened Up 0.09bp @ 100.813
Key Economic Data:
EUR / USD 1.4318 Up 0.0012
USD / JPY 80.1140 Up 0.0685
GBP / USD 1.6216 Up 0.0022
Oil 92.98 Down 0.03
Gold 1,544.70 Up 5.60
Key Economic News:
Advice:
With no news for help and a weaker dollar, we might see some buying.
My position on MBS changes to neutral.
Analyst #2 (Dan Rawitch):
Here is the link to our daily video http://ratewatch.com/ratewatchnow.html
No Scheduled news this morning and all eyes are on......wait for it....Yep, Greece again. This time we think they will reach a new agreement and bonds are selling. I dont think we have heard the last of this yet, the Greeks are not too keen on taking the painful steps necessary to right their situation. Sound familiar?
This could prove to be a very important US history lesson and it is one we need to learn fast!
Let's hope bonds hold 100.60 today. It does not look that great so far. If we sell through there, look for another test of 100.20. This is a big news week and I doubt we get directional clarity until after GDP.
Trusted Mortgage Industry Resource
The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon. 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.jasonegordon.com for more information.
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