Todays best mortgage rates. What can we expect from mortgage rates this week? 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 Wednesday 9-14-2011 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 Tuesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING resulted in a change of 12 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 104.219

Opened Down 0.03 @ 104.188

Key Economic Data:

UST 5 YR  0.87  Down  0.02

UST 10 YR  12.00  Up  0.01
UST 30 YR 3.34 Up 0.02

EUR / USD  1.3721  Up  0.0043
USD / JPY  76.6670  Down  0.2930
GBP / USD  1.5804  Up  0.0025

Oil   89.59   Down  0.62

Gold   1,829.00   Down   1.10

Key Economic News:

Flat Sales
Retail sales weaker than expected in August. Hurricane Irene possibly a small negative. Core PPI inflation decelerates.

Key Numbers:
Retail sales Flat (mom) in August vs. median forecast +0.2%.
Retail sales ex-autos +0.1% (mom) in August vs. median forecast +0.2%.
PPI Flat (mom) in August vs. median forecast Flat.
Core PPI +0.1% (mom) in August vs. median forecast +0.2%.

Main Points:
1. Retail sales were unchanged in August, in contrast to expectations for a small gain. "Core" retail sales (ex-autos, gas and building materials) were also unchanged after an increase of 0.3% in July. This component is an important input into the Commerce Department's estimate of consumer spending, and the weak result is therefore a negative for Q3 GDP. While Hurricane Irene may have affected retail spending during the month, the mix of components does not clearly indicate that this was the only factor depressing sales. Weakness in the report was concentrated in a mixed group, including clothing, furniture and "miscellaneous" products. Some categories that could have been affected by the hurricane-such as sporting goods, electronics and building material-saw higher sales volumes during the month. Overall we read the August retail sales report as a modest disappointment.

2. Producer prices were flat in August, with a drop in energy prices offsetting a rise in food prices and a small uptick (0.1%) in the core. Notably, car prices were down in August for the first time in 2011. Readings on upstream price pressures were mixed, with intermediate goods prices generally down (core intermediate -0.1%), but crude goods prices up (core crude +1.6%).

10:00: Business inventories (July). The July business inventories report could affect our bean-count estimate of Q3 GDP growth. Recent inventories reports have shown solid growth.

Consensus: +0.5%; last +0.3%.

Advice:

With Retail sales coming in flat. I expect MBS pricing to again stay in a close trading range.

My position on MBS stays neutral.

Analyst #2 (Dan Rawitch)

Here is the link to our daily video http://ratewatch.com/ratewatchnow.html

All bond friendly news thus far this morning.  PPI at zero, we LOVE that and Retail sales at ZERO, bonds like that but I don't.  I am ready to witness the recovery!  Unfortunately, it will not happen for quite some time.

Europe needs to get solved, housing needs to recover and jobs need to be created.

Until then, we can expect pretty low rates, with some occasional scares along the way.  Technically, we sit at a risky level, but I gotta believe the fundamentals of the day, keep us propped up.

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 or www.ApprovingSD.com or more information.

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