Mortgage Rate Report 10-24-11: Trends, Projections & Today's Best Rates

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

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

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 www.MortgageStreetSmarts.com 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 10-24-2011 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).

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.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.

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary

Analyst#1: Neil Trenerry

FNMA 30-Yr 3.5%

Previous close 100.969

Opened Down 0.03 @ 100.938

 

 

Key Economic Data:

UST 2 YR 0.28  Up  0.01

UST 5 YR  1.08  Up 0.02

UST 10 YR  2.22 Up  0.00

UST 30 YR  3.25  Down  0.02

 

EUR / USD   1.3850  Down  0.0046
USD / JPY  76.1400  Down  0.1500
GBP / USD  1.5917 Down  0.0036

Oil   88.37   Up   0.97

Gold   1,659.60  Up   23.50



Key Economic News:

 

Comments from Fed officials:

 

8:45: New York Fed President William Dudley on the regional and national economy. Q&A scheduled. Following Vice Chair Yellen’s remarks on Friday, President Dudley’s speech today could help guide expectations for the November 1-2 FOMC meeting.

 

9:00: Dallas Fed President Richard Fisher on challenges to economic growth. Q&A scheduled.

 

13:00: New York Fed President William Dudley on the regional and national economy. Text of speech nearly identical to remarks earlier in the day. Q&A scheduled.

 

Advice:

 

With no news for help, another slow day.

 

 

My position on MBS stays neutral.

 

Analyst #2: Dan Rawitch

Here is the link to our daily video: http://ratewatch.com/ratewatchnow.html

The markets are a bit quite today and there is no scheduled news.  Good corporate earnings from Caterpillar and others, are giving the Dow some lift and putting some pressure on bonds.

Bonds have actually held quite nicely, in spite of some wildly positive moves in the equity markets.  I wonder how long that can last?

At the moment, we sit atop a critical level of support for the MBS 3.5% coupon, as we all wait to see what happens on Wednesday in Europe.

Be careful right here.

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.jasonegordon.com or www.ApprovingSD.com 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 www.GordonMortgage.com (an educational resource for Borrowers, Real Estate Agents, and Financial Professionals). Educational content provided by:

 

Jason E. Gordon

Branch Manager | Sr. Mortgage Loan Officer

CMPS, CDLP, CDRE, RCS-D, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

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

 

What People Are Saying About Jason Gordon

 Not all Mortgage Lenders are alike! Find out what Clients, Real Estate Agents and other Financial & Legal Professionals have to say about Jason Gordon.

 

 

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.

 

 

 

Recommended Links:

 

To see if you qualify (and to obtain a current market interest rate quote), click here for a secure online loan application form.

 

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. 

 

CLICK HERE TO READ CLIENT & REALTOR TESTIMONIALS

 

Gordon Mortgage Group Credentials 

Jason Gordon Mortgage 
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Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
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There's really nothing good in this economy.  It surprises me that we're having this uptick in rates right now!

Oct 24, 2011 07:25 AM #1
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Jason E. Gordon

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