Do you know someone who is currently applying for a mortgage loan and looking for the lowest mortgage rates? By forwarding this article, you will be doing them a huge favor! Finally a free daily report that offers complete transparency regarding mortgage rates by showing the actual market activity which influences the direction of mortgage rates. 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 6-4-2012 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 NEUTRAL RESULT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's NEUTRAL RESULT resulted in a change of 0 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 103.094 Open 102.797 Change -0.297
3.5 Coupon: Previous Close 105.359 Open 105.156 Change -0.203
4.0 Coupon: Previous Close 106.609 Open 106.500 Change -0.109
5 Year: Previous Close 100.023 Open 99.820 Change -0.195 Yield 0.660
10 Year: Previous Close 102.625 Open 102.141 Change -0.484 Yield 1.519
30 Year: Previous Close 109.609 Open 108.969 Change -0.641 Yield 2.569
Key Economic Data:
EUR/USD: Previous Close 1.2429 Open 1.2472 Change 0.0043
GBP/USD: Previous Close 1.5369 Open 1.5403 Change 0.0032
USD/JPY: Previous Close 78.070 Open 78.170 Change 0.1000
Oil: Previous Close 83.23 Open 82.71 Change -0.52
Key Economic News:
6:45: ISM New York index for May: Last 557.4.
7:00: Employment Trends for May: Last 108.0.
7:00: Durable Goods for Apr: Consensus 0.2%, Last -1.9%.
With little news on the home front, I expect this morning’s sell off just to be short term. I expect MBS 3.0 coupon price to stay around the 102.75 – 103.00 range.
My position on MBS changes to 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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