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Mortgage Rate Update 1-14-14: Trends & Projections

By Jason E. Gordon

Mortgage and Lending with CMG Mortgage, San Diego, CA NMLS 259027

January 13, 2014 11:53 PM

We are on a nice run with mortgage pricing over the past 2 days. Monday netted a 37 basis point improvement.

This daily mortgage interest rate report is designed to provide 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 over 2 years at www.JasonGordon.info whenever desired. To make things easier, I have also posted a quick report on How To Read The Charts Below.

Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with 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). Remember, we all make better decisions in life when we have the actual facts to analyze...share this report with those whom you care about!

San Diego Mortgage Rates - Jason Gordon - www.JasonGordonMortgage.com

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Tuesday 1-14-2013 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 Monday with a SIGNIFICANT IMPROVEMENT to pricing. Monday's SIGNIFICANT IMPROVEMENT netted a change of 37 basis points (bps).

(Note: Upward activity on these charts is GOOD, downward activity is BAD)

Best Mortgage Rates in San Diego - www.GordonMortgage.com

The following chart summarizes todays market activity:

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:

Best Mortgage Rates in San Diego - www.GordonMortgage.com

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.

Best Mortgage Rates in San Diego - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

FNMA

Cpn 3.0 Chg -0.1406 Bid 96.10938

Cpn 3.5 Chg -0.1406 Bid 100.455313

Cpn 4.0 Chg -0.0781 Bid 103.96875

Treasury

UST 5 YR Chg -0.0938 Bid 99.46875 Yield 1.6120

UST 10 YR Chg -0.1875 Bid 99.14063 Yield 2.8510

UST 30 YR Chg -0.2500 Bid 99.31250 Yield 3.7880

Currency

Euro Bid 1.3671 Chg -0.0001

Pound Bid 1.6422 Chg 0.0042

Yen Bid 103.660 Chg 0.680

Light Crude

Last 92.71

Key Economic Data:

ICSC chain stories

WW: Actual -1.0%, Last -.5.4%.

YY: Actual 1.3%, Last 1.7%.

Import Prices for Dec: Actual 0.0%, Consensus 0.3%, Last -0.6%.

Export Prices for Dec: Actual 0.4%, Consensus 0.1%, Last 0.1%.

Retail sales for Dec

Control: Actual 0.7%, Consensus 0.3%, Last 0.5%.

Sales: Actual 0.2%, Consensus 0.1%, Last 0.7%.

Sales ex-autos: Actual 0.7%, Consensus 0.4%, Last 0.4%.

Redbook

MM: Actual -0.3%, Last -0.6%.

YY: Actual 2.9%, Last 4.1%.

7:00: Business inventories for Nov: Consensus 0.3%, Last 0.7%.

Advice:

Treasuries remained lower after a report showed retail sales rose in December more than forecast, easing concern that the economic recovery is uneven as the Federal Reserve cuts back on its debt-purchase program. The yield on the benchmark 10-year note rose from the lowest level in a month before Federal Reserve board members Charles Plosser and Richard Fisher speak on the economicout look. Atlanta Fed President Dennis Lockhart yesterday backed reductions in U.S. stimulus even as data last week showed the U.S. economy added jobs at the slowest pace since January 2011. A gauge of Treasury volatility fell to the lowest in almost two months. Virtually everyone in the market is expecting more tapering, despite some recent soft patches in the data, said Peter Osler, head of rates strategy at broker Marex Spectron Group Ltd. in London. Policy makers are likely to continue with the message that theyll stick to their tapering plan. Its only a question of timing really. This is a bumpy recovery for sure but the broader trends are still encouraging.

My position on MBS

Short term Neutral.

Long term Short.

Trusted Industry Advisor

San Diego Mortgage Rates - Jason Gordon - www.JasonGordonMortgage.com

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity. All Market Commentary is provided via The Mortgage Coach and/or their RateWatch technology software.

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.GordonMortgage.com or www.ApprovingSD.com or more information.

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