What are California's best mortgage rates? What can we expect from mortgage rates for the remainder of this year? 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 12-12-2011 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 31 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: Neil Trenerry
FNMA 30-Yr 3.5%
Previous close 101.969
Opened Up 0.15 @ 102.125
Key Economic Data:
EUR / USD 1.3247 Down 0.0139
USD / JPY 77.9665 Up 0.3203
GBP / USD 1.5607 Down 0.0064
Oil 97.82 Down 1.59
Gold 1,675.30 Down 41.50
Key Economic News:
No news
Advice:
With no news for help, the dollar strong against major currencies, and Oil and Gold lower. I would expect the market to improve.
My position on MBS changes to neutral. (Buy back short position).
Analyst: Dan Rawitch
Here is the link to our weekly "Mortgage Coach Insights" report. http://themortgagecoach.com/insights
We have continued mixed signals in the economy, leading to overall confusion for most traders as to which direction things will play out. Europe continues to be both the focus and a mess.
In this video I discuss the NAR home affordability index as well as why buying home can makes sense even in a declinging market. Really!
I would love your comments and feedback. Good or Bad, you know I need to know.
This week was longer than I hope future releases will be, but it is tough to cover an entire week in under 10 minutes. Please let me know if you have thoughts on the length and ideas for shortening.
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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