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.
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).
The following chart shows the market activity for today (hint: upward activity is good, downward activity is bad):
The following chart shows market activity over the past 10 days (hint: green is good, red is bad):
The following chart shows market activity over the past 1 month:
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.
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:
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.
Treasury announcing the size of next week's 3, 10, and 30-yr auctions
(estimated unchanged at $72 billion).
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.
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