Mortgage Rate Update 2-1-12: Trends, Projections & Today's Lowest Rates

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

What are San Diego's lowest mortgage rates today? What can we expect from mortgage rates in the 1st quarter of 2012? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES to insure the best financial decisions are being made without the distraction of marketing gimmicks. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why) by subscribing to this daily update.

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 Wednesday 2-1-2012 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 15 basis points (bps).

Today's Lowest 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 lowest rates

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

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

Market Commentary

Analyst: Neil Trenerry

FNMA 30-Yr 3.5%

Previous close 103.875

Opened Down 0.03 @ 103.844

 

Key Economic Data:

EUR / USD   1.3172  Up  0.0088
USD / JPY  76.1600  Down  0.1100
GBP / USD  1.5834  Up  0.0074

Oil   99.06  Up  0.58

Gold   1,748.70   Up  8.30

 
Key Economic News:

 

ADP

Companies added 170,000 workers to their payrolls in January, according to data today from Roseland, New Jersey-based ADP Employer Services.  ADP’s initial figures for December showed a rise of 325,000, while the Labor Department’s data the next day showed an increase of 212,000 in private payrolls.

January Report: 170,000, Consensus 182,000.

 

ISM Index

 

Construction Spending

 

Treasury announcing the size of next week's 3, 10, and 30-yr auctions
(estimated unchanged at $72 billion).

 

Advice:

 

With ADP coming in just under consensus and the continuing problems in Europe. I would expect the market to hold the 103.625 – 103.875 range, unless we get an upset from ISM or Construction spending.

 

My position on MBS stays long.

Market Analyst: Dan Rawitch

 Here is the link to today's video http://ratewatch.com/ratewatchnow.html

Mixed news...and talk of a deal in Greece is causing confusion in the bond Market.  10 year has been under pressure but MBS have turned positive.  I still see short term exposure down to 103.40.  Much lower if Greece really can pull something out of their hat.

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 lowest 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, 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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Lori Gardiner
RE/MAX River's Edge - Bristol, RI
GRI, SRS, ABR, e-PRO

Hi Jason,

Great post, charts, info.  Thanks for sharing. Have a great day!

Feb 01, 2012 01:08 AM #1
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Jason E. Gordon

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