HELPFUL TIP: With the recent drop in interest rates, many Borrowers are able to "roll down" the interest rate on their current mortgage while having the Lender pay all of their costs in the process. For more information on how this process works, feel free to contact the author of this daily mortgage update. The mathematics don't lie...this process works!
This daily mortgage interest rate report is provided to equip Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired. Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Friday 9-28-2012 and will help you understand today's 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's WORSENING netted a change of 18 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
FNMA 30-Year
2.5 Coupon: Open 103.406 Change 0.281
3.0 Coupon: Open 105.719 Change 0.250
3.5 Coupon: Open 107.297 Change 0.125
Treasuries:
5 Year: Open 100.039 Change 0.102 Yield 0.617
10 Year: Open 100.109 Change 0.266 Yield 1.613
30 Year: Open 99.109 Change 0.641 Yield 2.793
Key Economic Data:
EUR/USD: Open 1.2912 Change 0.0019
GBP/USD: Open 1.6233 Change -0.0029
USD/JPY: Open 77.570 Change 0.0400
Oil: Open 92.07 Change 0.20
Advice:
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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