Mortgage Rate Update 10-26-11: Trends, Projections & Today's Best Rates

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

San Diego's 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 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 Wednesday 10-26-2011 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 Tuesday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's IMPROVEMENT resulted in a change of 49 basis points (bps).

San Diego's 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):

San Diego's 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):

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

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

San Diego's 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.

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

Market Commentary

Analyst#1: Neil Trenerry

FNMA 30-Yr 3.5%

Previous close 101.531

Opened Down 0.15 @ 101.375



Key Economic Data:

UST 2 YR 0.28  Up  0.03

UST 5 YR  1.04  Up 0.05

UST 10 YR  2.15 Up  0.04

UST 30 YR  3.16  Up  0.02


EUR / USD   1.3938  Up  0.0030
USD / JPY  75.8600  Down  0.2300
GBP / USD  1.6015 Up  0.0014

Oil   92.67   Down   0.50

Gold   1,712.70  Up   12.30

Key Economic News:


Components Look Solid
Headline durable goods orders in line with consensus. Detailed components consistent with healthy trend in capex.

Key Numbers:
Durable goods orders -0.8% for August vs. median forecast -1.0%.
Core orders +2.4% for August vs. median forecast +0.5%.

Main Points:
1. New orders for durable goods declined by 0.8% (month-over-month) in September, roughly as expected. Despite the soft headline, the report as a whole was moderately better than expected, in our view. Orders excluding transportation increased by 1.7%, above consensus expectations for a 0.4% gain. "Core" orders (orders of nondefense capital goods ex-aircraft) rose by 2.4% following an increase of 0.5% in August. Core shipments declined, but this followed an upwardly-revised 3.1% gain in August. Overall recent durable goods reports continue to show a healthy trend in capital spending.

2. Durable goods inventories rose by just 0.1% (month-over-month), down from an increase of 0.9% in August. Nevertheless, the inventory-to-sales ratio in the durable manufacturing sector continued to edge higher during the month.


10:00: New home sales (September): Small gain. We forecast a small increase for September as new home sales continue to hover at very low levels.

Consensus: +1.7%; Last -2.3%.




With a strong dollar and Europe struggling to come to an agreement, even with Durable goods holding its own. I would expect the market to improve thru the day. 

My position on MBS stays neutral.


Analyst #2: Dan Rawitch

Here is the link to our daily video:

Lots of Unfriendly bond news today.   As I expected the bad economic news coupled with Euro concerns help drive MBS to the top of the range.

Today, very likely will end very near something that will look like, yesterdays opposite.   Sometimes I try to write sentences that sound clever, yet often times, I don’t know what I was trying to say.  That last one was an example.

Anyway…watch out for the 5 year auction later today…I could add gas to the fire, if it does not go well.

Tomorrow is the really big news, with GDP….Lots can happen at any moment in this environment.  Count on some big swings!

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 San Diego's 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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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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