Strong day for mortgage rates yesterday as the market closed up 25 basis points. We begin Friday with a slight positive uptick...with hopes of continuing in this direction!
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!
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Friday 7-26-2013 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 Thursday with a SIGNIFICANT IMPROVEMENT to pricing. Thursday's SIGNIFICANT IMPROVEMENT netted a change of 25 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the activity thus far 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 Trennery)
2.5 Coupon: Open 92.5313 Change 0.1875
3.0 Coupon: Open 97.0000 Change 0.1875
3.5 Coupon: Open 100.9219 Change 0.2031
4.0 Coupon: Open 103.9688 Change 0.1563
5 Year: Open 100.0313 Change 0.0547 Yield 1.3690
10 Year: Open 93.0625 Change 0.1875 Yield 2.5550
30 Year: Open 86.5313 Change 0.4844 Yield 3.6170
Key Economic Data
EUR/USD: Open 1.3257 Change -0.0019
GBP/USD: Open 1.5388 Change -0.0001
USD/JPY: Open 98.530 Change -0.750
Oil: Open 104.69
Key Economic Data:
6:55: Univ of Michigan Final for Jul
Sentiment: Consensus 84.0, Last 83.9.
Condition: Consensus 100.00, Last 99.7.
Expectation: Consensus 74.0, Last 73.8.
1yr Inflation: Last 3.3%.
5-yr Inflation: Last 2.9%.
7:30 ECRI weekly index: Last 131.2.
Treasuries headed for a weekly decline before an industry report that economists said will show
a gauge of U.S. consumer confidence was higher than initially estimated, adding to signs the recovery is gaining momentum.
My position on MBS changes to Neutral.
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.jasongordon.net or www.ApprovingSD.com or more information.
Click here for daily mortgage interest rate updates and projections for San Diego's best mortgage rates
Attention Real Estate Agents!
(click the video below to learn about my "Preferred Realtor Partner" marketing technology)
For more information on topics like this, please feel free to visit www.GordonMortgage.com (an educational resource for Borrowers, Real Estate Agents, and Financial Professionals). Educational content provided by:
Jason E. Gordon
Sr. Mortgage Loan
CMPS, CDPE, CMC, NMLS 259027
To see if you qualify (and to obtain a current market interest rate quote), click here for a secure online loan application form.
Licensed by the Department of Corporations under the California Residential Mortgage Lending Act.
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