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Mortgage Rate Update 11-8-11: Trends, Projections & Today's Best Rates

By
Mortgage and Lending with CMG Mortgage, San Diego, CA NMLS 259027

What are California's best mortgage rates? What can we expect from mortgage rates for the remainder of this month? 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).

Mortgage Street Smarts - Daily interest rate updates, daily mortgage rate projections, mortgage quotes, featuring todays best mortgage rates. Provided by San Diego Residential Mortgage Specialist Jason E Gordon, CMPS, Direct Lender, Mortgage Broker, San Diego, CA. Visit www.MortgageStreetSmarts.com for free online mortgage calculator, no hassle mortgage quote, and secure online mortgage loan application.

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

The following information is current as of Tuesday 11-8-2011 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 Monday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's IMPROVEMENT resulted in a change of 6 basis points (bps).

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows the market activity for today (hint: upward activity is good, downward activity is bad):

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.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.

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary

Analyst: Neil Trenerry

FNMA 30-Yr 3.5%

Previous close 102.125

Opened Down 0.03 @ 102.094

 

 

Key Economic Data:

UST 2 YR 0.24  Up  0.01

UST 5 YR  0.90  Up 0.01

UST 10 YR  2.04 Up  0.02

UST 30 YR  3.09  Up  0.01

 

EUR / USD   1.3811  Up  0.0035
USD / JPY  77.8000  Down  0.2500
GBP / USD  1.6091  Up  0.0034

Oil   96.74   Up   1.22

Gold   1,792.90  Up   1.80



Key Economic News:

 

The JOLTS report and speeches from Fed officials:

 

10:00 JOLTS (Job Openings and Labor Turnover Survey) (September). The monthly JOLTS report includes data on gross labor market flows, and therefore provides more detail on current job conditions than the timelier payroll report. We will be watching for any sign that uncertainty about the economy in September resulted in a pullback in hiring.

 

13:00: Minneapolis Fed President Narayana Kocherlakota gives speech titled “Looking Back at Three Years of Federal Reserve Action.”

 

13:30: Philadelphia Fed President Charles Plosser speaks on monetary policy. Q&A expected.

 

 

Advice:

 

Another day like yesterday.

 

My position on MBS stays neutral.

Trusted Industry Advisor

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.

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

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