Mortgage Rate Update 10-25-11: 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 Tuesday 10-25-2011 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 Monday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders).Monday's WORSENING resulted in a change of 3 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 100.906

Opened Up 0.125 @ 101.031

 

 

Key Economic Data:

UST 2 YR 0.29  Up  0.00

UST 5 YR  1.09  Up 0.00

UST 10 YR  2.22 Down  0.01

UST 30 YR  3.26  Down  0.02

 

EUR / USD   1.3897  Down  0.0032
USD / JPY  76.0800  Down  0.0200
GBP / USD  1.6001 Up  0.0003

Oil   94.00   Up   2.73

Gold   1,658.00  Up   5.70


Key Economic News:

 

House prices, consumer confidence and the Richmond Fed index:

 

9:00: S&P/Case-Shiller home price index (August): Stable prices. Consensus points to a small increase in the seasonally adjusted Case-Shiller 20-city index during May. This would leave prices down 3.3% from a year earlier.

Consensus: +0.1%; Last +0.1%.

 

10:00: Conference Board confidence index (October): Small increase? Consensus is looking for a small increase in the index of consumer confidence, based partly on the rise in stock prices. Measures of consumer confidence in general show household sentiment steady at subdued levels.

Consensus: 46.0; Last: 45.4.

 

10:00: FHFA House Price Index (August): Another gain. This index—which tracks the purchase price of homes with agency-conforming mortgages—has risen in every month since March.

Consensus: +0.2%; Last +0.8%.

 

10:00: Richmond Fed survey (October): Tie breaker. The Philadelphia Fed index improved sharply this month but the Empire State index was about unchanged and still well below zero. The Richmond Fed index should help determine which is a better characterization of current manufacturing activity. In addition to a manufacturing index, the Richmond Fed survey contains a separate set of questions sent to firms in service-providing industries, which is one of the few direct measures of services activity in the monthly indicator cycle.

Consensus: Flat; Last -6.

 

Advice:

 

Again all eyes will be on Europe, and with today’s news expected to come in close to last months numbers. I expect the market to hold the 101.000 mark.

My position on MBS stays neutral.

Analyst #2: Dan Rawitch

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

Lots of bond friendly news this morning.  Although bond friendly, it should not make you happy.  We need housing to bottom and we need consumers to feel great so they pay the bottomed out prices.

Instead, the housing numbers take another hit and consumer confidence dives as well.  Take a look at the chart, confidence is as low as it has been for at least 40 years (other than that lovely period of 08).

Like I’ve said, I would trade higher rates for a robust housing market and super excited consumers.

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

Posted by

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 
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
California San Diego County Poway
Groups:
Realtors®
Carlsbad CA Real Estate
San Diego North County Real Estate
Del Mar Real Estate
Poway Real Estate
Tags:
fha
cmps
direct lender
first time homebuyer
va
jason e gordon
san diego residential mortgage specialist
todays best rates

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
486,826

Jason E. Gordon

Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE
Ask me a question
*
*
*
*
Spam prevention

Additional Information