Wouldn't it be nice if you could get a gimmick-free guide to mortgage rates? Please feel free to share the report below with the people in your life whom you care about. Imagine a world where everyone knew THE TRUTH BEHIND MORTGAGE QUOTES and avoided making costly financial decisions.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Wednesday 4-18-2012 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING resulted in a change of 9 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.
Market Commentary
Analyst: Neil Trenerry
FNMA 30-Year:
3.0 Coupon: Previous Close 100.219 Open 100.375 Change 0.156
3.5 Coupon: Previous Close 103.297 Open 103.359 Change 0.063
4.0 Coupon: Previous Close 105.375 Open 105.438 Change 0.063
Treasuries:
5 Year: Previous Close 100.656 Open 100.719 Change 0.063 Yield 0.851
10 Year: Previous Close 99.922 Open 100.172 Change 0.250 Yield 1.981
30 Year: Previous Close 99.422 Open 100.047 Change 0.625 Yield 3.122
Key Economic Data:
EUR/USD: Previous Close 1.3127 Open 1.3072 Change -0.0055
GBP/USD: Previous Close 1.5921 Open 1.5975 Change 0.0054
USD/JPY: Previous Close 80.860 Open 81.350 Change 0.4900
Gold: Previous Close 1650.30 Open 1642.00 Change -8.30
Oil: Previous Close 104.20 Open 103.61 Change -0.59
Key Economic News:
Mortgage Market
Index: Actual 725.4, Last 678.8. Change: Actual 6.9%, Last -2.4%.
Purchase: Actual 180.5, Last 203.3. Change: Actual -11.2%, Last -0.5%.
Refinance: Actual 3936.3, Last 3467.3. Change: Actual 13.5%, Last -3.1%.
30-yr Rate: Actual 4.05%, Last 4.10%.
Advice:
With no news for help probably be a wait a see game. I expect the 3.0 coupon to stay around the 100.500 mark.
My position on MBS stays neutral.
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.jasongordon.net or www.ApprovingSD.com or more information.
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