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Mortgage Rate Update: 5-7-12: Trends Projections & Todays Lowest Rates

By
Mortgage and Lending with CMG Mortgage, San Diego, CA NMLS 259027

After a roller coaster of a morning, the market ended up finishing exactly where it opened. See Market Analyst predicitons below to better prepare yourself for what is next to come in regards to your biggest financial expense. If you have a loan in process, be sure to better understand THE TRUTH BEHIND MORTGAGE QUOTES to assure you make the best business decisions possible pertaining to your mortgage.

Jason E. Gordon - Mortgage Rate Update - www.jasongordon.net

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Monday 5-7-2012 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 Friday with a NEUTRAL RESULT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's NEUTRAL RESULT resulted in a change of 0 basis points (bps).

(hint: upward activity is good, downward activity is bad)

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows the market activity for today:

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows market activity over the past 1 month:

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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.

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary

Analyst: Neil Trenerry

 

FNMA 30-Year:

3.0 Coupon: Previous Close 101.031  Open 101.063  Change 0.031

3.5 Coupon: Previous Close 104.031  Open 104.078  Change 0.047

4.0 Coupon: Previous Close 106.000  Open 106.063  Change 0.063

Treasuries:

5 Year: Previous Close 100.445  Open 100.461  Change 0.016  Yield 0.780

10 Year: Previous Close 101.063  Open 101.172  Change 0.109  Yield 1.870

30 Year: Previous Close 101.016  Open 101.219  Change 0.203  Yield 3.062


Key Economic Data:

EUR/USD: Previous Close 1.3026  Open 1.3047 Change 0.0020

GBP/USD: Previous Close 1.6151  Open 1.6154 Change 0.0003

USD/JPY: Previous Close 79.750  Open 79.910  Change 0.1600

Gold: Previous Close 1644.70 Open 1638.70 Change -0.60

Oil: Previous Close 98.49 Open 97.72 Change -0.77


Key Economic News:

7:00: Employment Trends for Apr: Last 107.3.

12:00: Consumer Credit for Mar: Consensus 9.80b, Last 8.73b.

 

Advice:

With little news to help, and the Government still buying MBSs. I would expect the market to hold these levels.

My position on MBS stays neutral.

Trusted Industry Advisor

Jason E Gordon, San Diego Residential Mortgage Specialist, www.ApprovingSD.com

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.

Click here for daily mortgage interest rate updates and projections for San Diego's lowest mortgage rates

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