Another day, another improvement for mortgage rates. If you have not already refinanced your existing mortgage, what exactly are you waiting for? Interest rates historically tend to move up and down on a chart (similar to a heart monitor). By locking in rates now, you will be securing some of the lowest mortgage rates in history.
Before you decide who to work with for your next mortgage, I recommend you take a moment to become familiar with THE TRUTH BEHIND MORTGAGE QUOTES. I hope you find this information useful.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Monday 4-23-2012 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 an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's IMPROVEMENT resulted in a change of 9 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.
Analyst: Neil Trenerry
3.0 Coupon: Previous Close 100.641 Open 100.906 Change 0.266
3.5 Coupon: Previous Close 103.563 Open 103.766 Change 0.203
4.0 Coupon: Previous Close 105.547 Open 105.672 Change 0.125
5 Year: Previous Close 100.742 Open 100.906 Change 0.156 Yield 0.814
10 Year: Previous Close 100.266 Open 100.703 Change 0.438 Yield 1.921
30 Year: Previous Close 99.938 Open 101.047 Change 1.109 Yield 3.071
Key Economic Data:
EUR/USD: Previous Close 1.3191 Open 1.3127 Change -0.0062
GBP/USD: Previous Close 1.6129 Open 1.6095 Change -0.0035
USD/JPY: Previous Close 81.540 Open 81.070 Change -0.4500
Gold: Previous Close 1642.10 Open 1625.10 Change -17.00
Oil: Previous Close 103.38 Open 102.08 Change -1.80
Key Economic News:
No news items.
With no news for help. I expect it to be flat until Wednesday’s FOMC meeting.
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.jasongordon.net or www.ApprovingSD.com or more information.
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