What are San Diego's lowest mortgage rates today? What can we expect from mortgage rates in the 1st quarter of 2012? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES to insure the best financial decisions are being made without the distraction of marketing gimmicks. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why) by subscribing to this daily update.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Thursday 2-2-2012 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 Wednesday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Wednesday's IMPROVEMENT 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: Neil Trenerry
FNMA 30-Yr 3.5%
Previous close 103.969
Opened Up 0.06 @ 104.031
Key Economic Data:
EUR / USD 1.3117 Down 0.0025
USD / JPY 76.1600 Down 0.1100
GBP / USD 1.5823 Down 0.0010
Oil 96.60 Down 1.01
Gold 1,749.20 Down 0.30
Key Economic News:
Unemployment Claims:
Claims for jobless benefits fell last week, a sign the labor market is improving. Applications for unemployment insurance payments dropped by 12,000 to 367,000 in the week ended Jan. 28, Labor Department figures showed today in Washington. The median forecast of 46 economists in a Bloomberg News survey projected 371,000. Companies are slowing the pace of firing as the world’s largest economy picks up, a necessary step toward bigger gains in employment. Economists forecast a Labor Department report tomorrow may show employers boosted payrolls in January and the jobless rate held at an almost three-year low. Jobless claims were projected to decrease from 377,000 initially reported for the prior week, according to the Bloomberg survey. Estimates ranged from 360,000 to 384,000. The Labor Department revised the previous week’s figure up to 379,000.
Those who’ve used up their traditional benefits and are now collecting emergency and extended payments increased by about 43,100 to 3.5 million in the week ended Jan. 14.
Productivity Rises. The measure of worker output per hour increased at a 0.7 percent annual rate, following a 1.9 percent gain in the prior three-month period. Expenses per employee climbed at a 1.2 percent rate after falling 2.1 percent in the third quarter.
Advice:
With unemployment coming just under expectations, and the dollar improving. I would expect the market to hold.
My position on MBS stays long.
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.
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