Now that April is upon us, what can we expect from mortgage rates in 2012 Q2? 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 complimentary daily update.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Monday 4-2-2012 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 Friday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's WORSENING resulted in a change of 24 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the market activity for today:
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-Year:
3.0 Coupon: Previous Close 99.594 Open 99.875 Change 0.281
3.5 Coupon: Previous Close 102.688 Open 102.875 Change 0.188
4.0 Coupon: Previous Close 104.844 Open 104.953 Change 0.109
Treasuries:
5 Year: Previous Close 99.781 Open 99.891 Change 0.109 Yield 1.023
10 Year: Previous Close 98.078 Open 98.328 Change 0.250 Yield 2.189
30 Year: Previous Close 95.844 Open 96.281 Change 0.438 Yield 3.320
Key Economic Data:
EUR/USD: Previous Close 1.3357 Open 1.3281 Change -0.0075
GBP/USD: Previous Close 1.6016 Open 1.5998 Change -0.0019
USD/JPY: Previous Close 82.990 Open 82.160 Change -0.8300
Gold: Previous Close 1669.30 Open 1666.00 Change -3.30
Oil: Previous Close 103.02 Open 102.14 Change -0.88
Key Economic News:
7:00 Construction spending for Feb: Consensus 0.6%, Last -0.1%.
7:00 ISM Manufacturing PMI for Mar: Consensus 53.0, Last 52.4.
Advice:
With the gain from the Open, as long as we get no surprise from Construction spending and ISM, I would expect the market to continue improving thru the day.
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.
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