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 Friday 6-29-2012 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 Thursday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's IMPROVEMENT resulted in a change of 12 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 102.875 Open 102.531 Change -0.328
3.5 Coupon: Previous Close 105.281 Open 105.078 Change -0.203
4.0 Coupon: Previous Close 106.547 Open 106.406 Change -0.141
Treasuries:
5 Year: Previous Close 100.281 Open 100.023 Change -0.258 Yield 0.745
10 Year: Previous Close 101.594 Open 100.813 Change -0.781 Yield 1.660
30 Year: Previous Close 106.875 Open 104.875 Change -2.000 Yield 2.761
Key Economic Data:
EUR/USD: Previous Close 1.2439 Open 1.2681 Change 0.0242
GBP/USD: Previous Close 1.5513 Open 1.5691 Change 0.0178
USD/JPY: Previous Close 79.410 Open 79.560 Change 0.150
Oil: Previous Close 77.69 Open 81.79 Change 4.10
Key Economic News:
PCE for May
Personal Consump: Actual 0.1%, Last 0.3%.
Personal Income: Actual 0.2%, Consensus 0.2%, Last 0.2%.
Core price index year-on-year: Actual 1.8%, Last 1.9%.
Core price index month-on-month: Actual 0.1%, Consensus 0.2%, Last 0.1%.
6:45: Chicago PMI for Jun: Consensus 52.5, Last 52.7.
6:55: Univ of Michigan for Jun
Sentiment: Consensus 74.1, Last 74.1.
Conditions: Consensus 82.1, Last 82.1.
Expectations: Consensus 69.0, Last 68.9
Inflation 1yr: Last 3.0%.
Inflation 5yr: Last 2.9%.
7:30 ECRI weekly index: Last 121.3.
Advice:
With PCE coming in as expected, unless we see a big surprise from Univ of Michigan I would expect the market to these levels. But watch out for profit taking.
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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