Mortgage Rate Update 10-17-11: Trends, Projections, & Today's Best Rates

Mortgage and Lending with AmeriFirst Financial Inc, San Diego, CA NMLS 259027

Todays best mortgage rates. What can we expect from mortgage rates this quarter? 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).

Mortgage Street Smarts - Daily interest rate updates, daily mortgage rate projections, mortgage quotes, featuring todays best mortgage rates. Provided by San Diego Residential Mortgage Specialist Jason E Gordon, CMPS, Direct Lender, Mortgage Broker, San Diego, CA. Visit for free online mortgage calculator, no hassle mortgage quote, and secure online mortgage loan application.

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

The following information is current as of Monday 10-17-2011 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 Friday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's WORSENING resulted in a change of 22 basis points (bps).

Best Mortgage Rates, San Diego Residential Mortgage Specialist, Jason E Gordon,

The following chart shows the market activity for today (hint: upward activity is good, downward activity is bad):

Best Mortgage Rates, San Diego Residential Mortgage Specialist, Jason E Gordon,

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

 Best Mortgage Rates, San Diego Residential Mortgage Specialist, Jason E Gordon,

The following chart shows market activity over the past 1 month:

Best Mortgage Rates, San Diego Residential Mortgage Specialist, Jason E Gordon, 

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, San Diego Residential Mortgage Specialist, Jason E Gordon,

Market Commentary

Analyst#1: Neil Trenerry

FNMA 30-Yr 3.5%

Previous close 100.688

Opened Up 0.125 @ 100.813



Key Economic Data:

UST 2 YR 0.27  Up  0.00

UST 5 YR  1.08  Down 0.04

UST 10 YR  2.19 Down  0.06

UST 30 YR  3.19  Down  0.05


EUR / USD  1.3774  Down  0.0108
USD / JPY  76.8700  Down  0.3500
GBP / USD  1.5781 Down  0.0039

Oil   86.00   Down   0.80

Gold   1,682.70  Down   0.30

Key Economic News:

Pessimistic Sentiment Belies Modest Firm-Level Improvement
NY Fed mfg survey better than it looks on surface -- revealing stabilization in orders and modest improvement in shipments and employment, despite respondents' glum characterization of overall business conditions. Industrial production rises in line with expectations in September.

Key Numbers:
Empire manufacturing index -8.48 in Oct vs consensus -4.0.
Industrial production +0.2% in October vs consensus +0.2%
Capacity utilization 77.4% in October vs consensus 77.5%

Main Points:

1. The headline Empire manufacturing index from the New York Federal Reserve posted a -8.5 reading in October, essentially no improvement from the -8.8 recorded last month. This index reflects respondents' answers to the question "What is your evaluation of the level of general business activity?", showing generally downbeat views of the current economic situation.

2. However, when asked about activity at their own business facilities, responses were considerably more encouraging. The new orders index stabilized at +0.2, from -8.0 in September (this is the first positive reading since May). The shipments and employment indexes flipped from negative to positive territory (a 17-point swing in the case of the shipments index).

3. Indicators of price pressures eased, with the "prices paid" index at its lowest level since autumn 2010 and the the "prices received" indexes also showing a bit less inflation.

4. Industrial production rose a modest 0.2% in September, in line with expectations. The composition of the report was more encouraging -- with manufacturing output up 0.4% and mining output up 0.8%, while the more volatile utilities sector (affected greatly by weather conditions) showed a 1.8% decline. Less encouraging was a downward revision to August production to flat (from +0.2% previously.

5. Industrial capacity utilization rose to 77.4% in September, still slightly below its long-term average.




My position on MBS stays Long.


Analyst #2: Dan Rawitch

Here is the link to our daily video:

The DOW looks overbought after an 11% run up of the S&P over just the last 2 weeks.  Germany Finance Minister spooked the overnight markets with comments about not being close to a Greek resolution.

This caused a nice bump in treasuries and MBS.  I would love to see us climb away from and close well above the 101 mark.  We are still too close to falling off the cliff that occurs at 100.50.

Huge news week, many of these items can move the market, but pay careful attention to CPI!

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 or or more information.

Click here for daily mortgage interest rate updates and projections for todays best mortgage rates

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For more information on topics like this, please feel free to visit (an educational resource for Borrowers, Real Estate Agents, and Financial Professionals). Educational content provided by:


Jason E. Gordon

Branch Manager | Sr. Mortgage Loan Officer



Gordon Mortgage Group - AmeriFirst Financial Inc.


Office: 619-200-8031



11440 W. Bernardo Court, Ste. 300, San Diego, CA 92127


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Attention Real Estate Agents!

 Ever heard of a Lender having more "skin in the game" during escrow than a Buyer? Ever wish a Lender would put their money where their mouth is? Learn how the Protect Your Transaction (PYT) program will improve the negotiation leverage for a Buyer, as well as how PYT benefits the Seller & Realtors in this short video.




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Gordon Mortgage Group - AmeriFirst Financial


Licensed by the Department of Corporations under the California Residential Mortgage Lending Act.

AmeriFirst Financial Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS #145368) Toll free phone (877) 276-1974. Copyright 2012. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations may apply. AmeriFirst Financial is required to disclose the following licensing information. Please click here for licensing information. 




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