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 8-6-2012 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 Friday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's WORSENING resulted in a change of 3 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: Neil Trenerry
3.0 Coupon: Previous Close 103.469 Open 103.625 Change 0.156
3.5 Coupon: Previous Close 105.781 Open 105.891 Change 0.109
4.0 Coupon: Previous Close 107.078 Open 107.156 Change 0.078
5 Year: Previous Close 99.148 Open 99.266 Change 0.117 Yield 0.650
10 Year: Previous Close 101.563 Open 101.813 Change 0.250 Yield 1.549
30 Year: Previous Close 106.906 Open 107.484 Change 0.578 Yield 2.636
Key Economic Data:
EUR/USD: Previous Close 1.2385 Open 1.2386 Change 0.0001
GBP/USD: Previous Close 1.5643 Open 1.5568 Change -0.0075
USD/JPY: Previous Close 78.220 Open 78.700 Change 0.470
Oil: Previous Close 91.40 Open 90.90 Change -0.50
Key Economic News:
7:00: Unemployment trends for Jul: Last 107.5.
With just Unemployment trends to come out shortly. I would expect the market to recover some of Friday’s losses thru the day.
My position on MBS stays Long.
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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