Mortgage Rate Update 10-31-11: 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 next month? 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 10-31-2011 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 an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's IMPROVEMENT resulted in a change of 16 basis points (bps).

 Today'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):

 Today'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):

 Today's best mortgage rates, San Diego Residential Mortgage Specialist, Jason E Gordon,

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

 Today'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.

 Today'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 100.813

Opened Up 0.43 @ 101.460


Key Economic Data:

UST 2 YR 0.27  Down  0.02

UST 5 YR  1.04  Down 0.09

UST 10 YR  2.22 Down  0.11

UST 30 YR  3.25  Down  0.13


EUR / USD   1.4007  Down  0.0140
USD / JPY  78.0200  Up  2.2000
GBP / USD  1.6045 Down  0.0085

Oil   91.66   Down   1.66

Gold   1,724.10  Down   23.10

Key Economic News:


More regional manufacturing surveys:


9:45: Chicago purchasing managers’ index (October). Small decline? The Chicago purchasing managers’ index remains elevated compared to the other regional manufacturing surveys, and therefore looks likely to decline this month.

Consensus: 59.0; Last: 60.4.


10:30: Dallas Fed manufacturing index (October): Improved? Consensus forecasts expect the Dallas Fed manufacturing index to improve this month, consistent with the gain in the Philadelphia Fed index.

Consensus: -5.0; last -14.4.



Interesting articles on “Bonds Beat Stocks for First Time Since 1861” and “Treasuries Advance as Japan Central Bank Sells Yen, Fed Suspends MF Global”


My position on MBS stays long.

Analyst #2: Dan Rawitch

Here is the link to our daily video:

Just like Friday, we open the day with lots of bond friendly news!  Back to back days of good (for bonds) news have propelled the 10 year from a critical danger zone, all the way up to the top of the range.

This is a big news week and I would expect a huge amount of volatility as we move forward into November.  The FOMC has begun their meetings, Tuesdays results will be interesting to listen to.

My guess is that we do not get good news on job growth this week and the Fed will have to come to terms with an anemic 1.6% year over year GDP growth.  Since 1948, any number less than 2%, has led to recession.

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


What People Are Saying About Jason Gordon

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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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