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 Thursday 2-9-2012 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 Wednesday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Wednesday's IMPROVEMENT resulted in a change of 12 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.
Market Commentary
Analyst: Neil Trenerry
FNMA 30-Yr 3.5%
Previous close 103.813
Opened Down 0.06 @ 103.750
Key Economic Data:
EUR / USD 1.3279 Up 0.0018
USD / JPY 77.3000 Up 0.2600
GBP / USD 1.5857 Up 0.0040
Oil 99.77 Up 1.07
Gold 1,738.20 Up 6.90
Key Economic News:
Unemployment
Initial jobless claims: Actual: 358k, Consensus: 370k, Last: 373k.
Jobless claims 4-week average: Actual: 366.25k, Last 375.75k.
Continued Jobless claims: 3.515mm, Consensus: 3.500mm, Last 3.437mm.
7:00est Wholesale Inventories
Inventories month-on-month: Consensus 0.4%, Last: 0.1%.
International Trade month-on-month: Consensus -48.0b, Last: -47.8b.
Advice:
Today we might see a sell off as Unemployment numbers come in better than expected, and the Greece parliament seems to have come to an agreement.
My position on MBS changes to neutral (Buy back short position).
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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