Todays best mortgage rates. 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 8-8-2011 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's WORSENING resulted in a change of 64 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 102.469
Opened Up 0.15bp @ 102.625
Key Economic Data:
EUR / USD 1.4181 Down 0.0101
USD / JPY 77.7880 Down 0.6120
GBP / USD 1.6345 Down 0.0046
Oil 84.31 Down 2.57
Gold 1,697.30 Up 45.50
Key Economic News:
No News today.
Advice:
It looks like Gold is the safe harbor of choice at present. The next couple of days should be interesting.
My position on MBS changes to neutral (closed short position).
Analyst#2 (Dan Rawitch):
Here is the link to our daily video
http://ratewatch.com/ratewatchnow.html
Crazyness continues...leaving the DOW down substantially and bonds up! No surprise on the DOW but many of us are fairly surprised about the how well bonds are doing.
There are so many dynamics at play and I will save the multi page writeup and simply say that the economy stinks and the reality of that is trumping everything, including the historic downgrade of the US Debt market.
Brace yourself for plenty of shocking behavior in the days to come!
Trusted 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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