Todays best mortgage rates. What can we expect from mortgage rates next week? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why).
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Friday 9-23-2011 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 6 basis points (bps).
The following chart shows the market activity for today (hint: upward activity is good, downward activity is bad):
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 #1 (Neil Trenerry)
FNMA 30-Yr 3.5%
Previous close 103.656
Opened Down 0.27 @ 103.375
Key Economic Data:
UST 5 YR 0.80 Up 0.02
UST 10 YR 1.73 Up 0.01
UST 30 YR 2.79 Up -0.00
EUR / USD 1.3489 Up 0.0024
USD / JPY 76.2115 Down 0.0320
GBP / USD 1.5460 Up 0.0117
Oil 78.71 Down 1.80
Gold 1,689.60 Down 52.10
Key Economic News:
13:30: New York Fed President William Dudley on “Financial Stability and Economic Growth". Q&A expected.
14:45: San Francisco Fed President John Williams on “Unconventional Monetary Policy”.
Advice:
With no news for help, I would expect the market to sell off, as traders protect their profits over the weekend.
My position on MBS changes to neutral (Sell off long position).
Analyst #2 (Dan Rawitch)
Here is the link to our daily video http://ratewatch.com/ratewatchnow.html
No news today....watch the technicals! We closed the gap and could take a downward stab at the trend line.
These are rates not seen since the 30's and in some cases, lower than we have seen in history.
That is the definition of "Uncharted Waters". If you're a sailor that means, you have never taken your big boat, into waters that may be shallow, or rocky. We cannot see what will happen!
Trusted Industry Resource
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.jasonegordon.com or www.ApprovingSD.com or more information.
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