We are just days away from the completion of 2012 Q1...my how time flies! What can we expect from mortgage rates next quarter? 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 complimentary daily update.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Tuesday 3-27-2012 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 Monday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's IMPROVEMENT resulted in a change of 3 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the market activity for today:
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
Key Economic News:
ICSC chain stores
Week-on-week: Actual -0.5%, Last 0.9%.
Year-on-year: Actual 2.7%, Last 3.3%.
Month-on-month: Actual 0.5%, Last 0.4%.
Year-on-year: Actual 3.8%, Last 3.6%.
CaseShiller for Jan
Month-on-month NSA: Actual -0.8%, Consensus -0.6%, Last -1.1%.
Month-on-month SA: Actual 0.0%, Consensus -0.2%, Last -0.5%.
Year-on-year: Actual -3.8%, Consensus -3.8%, Last -4.0%.
7:00 Consumer Confidence for Mar: Consensus 70.3, Last 70.8.
7:00 Richmond Fed comp index for Mar: Last 20.
With ICSC down, and CaseShiller coming in close to expectations. All eyes will be on Consumer Confidence, if they come in lower as expected we will probably see the market continue to rally thru the day.
My position on MBS changes to long.
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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