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 7-6-2012 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 102.922 Open 103.219 Change 0.297
3.5 Coupon: Previous Close 105.484 Open 105.703 Change 0.219
4.0 Coupon: Previous Close 106.781 Open 106.906 Change 0.125
Treasuries:
5 Year: Previous Close 100.375 Open 100.500 Change 0.125 Yield 0.648
10 Year: Previous Close 101.391 Open 101.734 Change 0.344 Yield 1.559
30 Year: Previous Close 105.703 Open 106.469 Change 0.766 Yield 2.686
Key Economic Data:
EUR/USD: Previous Close 1.2391 Open 1.2328 Change -0.0061
GBP/USD: Previous Close 1.5522 Open 1.5505 Change -0.0017
USD/JPY: Previous Close 79.910 Open 79.550 Change -0.360
Oil: Previous Close 87.22 Open 84.82 Change -2.40
Key Economic News:
Payrolls for Jun
Non-farm: Actual 80k, Consensus 90k, Last 69k.
Manufacturing: Actual 11k, Consensus 5k, Last 12k.
Government: Actual -4k, Last -13k.
Private: Actual 84k, Consensus 102k, Last 82k.
Unemployment rate: Actual 8.2%, Consensus 8.2%, Last 8.2%.
Average earnings: Actual 0.3%, Consensus 0.2%, Last 0.1%.
Average week hrs: Actual 34.5h, Consensus 34.4h, Last 34.4h.
7:00: ECRI weekly index: Last 121.5.
Advice:
With Payrolls missing their mark, and concerns over Europe lingering. I would expect the market to hold these levels and possibly improve.
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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