Mortgage Rate Update 10-28-11: Trends, Projections & Today's Best Rates

By
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 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).

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 Friday 10-28-2011 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's WORSENING resulted in a change of 34 basis points (bps).

best mortgage 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):

best mortgage 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):

todays best mortgage rates, san diego residential mortgage specialist, jason e gordon, www.ApprovingSD.com

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

todays best mortgage 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.

todays best mortgage rates, san diego residential mortgage specialist, jason e gordon, www.ApprovingSD.com

Market Commentary

Analyst: Dan Rawitch

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

Some mixed news today but nothing to shock either side of the market.  Of all that I read this morning, I suppose the thing that concerned me the most was that our US savings rate is down to levels of August 07.  Meaning spending is up, in place of savings.  Similar to the behavior pattern we saw as we entered the last recession.  That of course, is my personal opinion and observation.

After running up over 300 points, we would expect the raging bull to take a breath in the corner.  Only until later, will we know how much energy he has left.  As you know, as the bull runs into equities, the Bears rush to bonds.

Lets hope to hit and hold 101.09ish today, otherwise, the Bond Bears are not done.

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 San Diego's 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 

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Rainer
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David Barnes 303.929.8450
Reverse Mortgage Funding - Denver, CO
NMLS # David 501351

Jason,

Love your article, more than most as I love the statistical side of the market. Do you find that your agents like this type of information? Most of our agents get lost in the charts and numbers and do not really undersatnd what is being presented. What do you think?

Thanks for the links, I liked the Truth behind mortgage quotes.

David

Starkey Mortgage

Denver CO

Oct 28, 2011 05:18 AM #1
Rainmaker
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Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE

Thanks for the feedback David. These lengthy reports definitely aren't for everyone. Whether the viewers are Agents, Borrowers, or Financial Professionals, my attempt is to voluntarily "pull back the curtain" to allow transparency with rate quotes. That said, I don't expect everyone to fully understand this information (but I would like them to know that I am constantly monitoring rate activity).

Oct 30, 2011 06:07 AM #2
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Rainmaker
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Jason E. Gordon

Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE
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