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 Wednesday 3-28-2012 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 21 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
3.0 Coupon: Previous Close 99.734 Open 99.781 Change 0.047
3.5 Coupon: Previous Close 102.813 Open 102.828 Change 0.016
4.0 Coupon: Previous Close 104.906 Open 104.922 Change 0.016
5 Year: Previous Close 99.305 Open 99.258 Change -0.047 Yield 1.030
10 Year: Previous Close 98.344 Open 98.219 Change -0.125 Yield 2.201
30 Year: Previous Close 96.672 Open 96.313 Change -0.359 Yield 3.320
Key Economic Data:
EUR/USD: Previous Close 1.3317 Open 1.3307 Change -0.0009
GBP/USD: Previous Close 1.5947 Open 1.5883 Change -0.0063
USD/JPY: Previous Close 83.190 Open 83.060 Change -0.1300
Gold: Previous Close 1684.80 Open 1684.80 Change 0.00
Oil: Previous Close 107.33 Open 105.51 Change -1.82
Key Economic News:
Index; Actual 663.7, Last 681.9. Change: Actual -2.7%, Last -7.4%.
Purchase index: Actual 190.6, Last 184.6. Change 3.3%, Last -1.0%.
Refi index: Actual 3438.6, Last 3603.5. Change -4.6%, Last -9.3%.
30-yr Rate: Actual 4.23%, Last 4.19%.
Durable Goods for Feb
Index: Actual 2.2%, Consensus 3.0%, Last -3.7%.
Ex-transports: Actual 1.6%, Consensus 1.7%, Last -3.0%.
Ex-defense: Actual 1.7%, Consensus 1.8%, Last -4.3%.
With the Dollar improving over European currencies, as the markets watch Portugal with concerns, and Durable goods just missing the mark. I expect the 3.0 cpn to trade in the 99.626 – 99.875 range.
My position on MBS stays long.
Analyst: Dan Rawitch
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