Do you know someone who is currently applying for a mortgage loan and looking for the lowest mortgage rates? By forwarding this article, you will be doing them a huge favor! Finally a free daily report that offers complete transparency regarding mortgage rates by showing the actual market activity which influences the direction of mortgage rates. 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 5-22-2012 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday'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 101.859 Open 101.344 Change -0.516
3.5 Coupon: Previous Close 104.375 Open 104.188 Change -0.188
4.0 Coupon: Previous Close 106.078 Open 105.953 Change -0.125
Treasuries:
5 Year: Previous Close 100.648 Open 100.547 Change -0.102 Yield 0.764
10 Year: Previous Close 100.141 Open 99.672 Change -0.484 Yield 1.788
30 Year: Previous Close 104.125 Open 102.703 Change -1.438 Yield 2.866
Key Economic Data:
EUR/USD: Previous Close 1.2813 Open 1.2761 Change -0.0052
GBP/USD: Previous Close 1.5824 Open 1.5783 Change -0.0042
USD/JPY: Previous Close 79.270 Open 79.860 Change 0.5900
Gold: Previous Close 1588.40 Open 1576.00 Change -12.40
Oil: Previous Close 92.57 Open 92.25 Change -0.32
Key Economic News:
ICSC chain stores week-on-week: Actual -1.7%, Last 0.8%.
ICSC chain stores year-on-year: Actual 3.8%, Last 4.5%.
7:00: Existing home sales for Apr: Consensus 4.60m, Last 4.48m.
7:00: Richmond Fed index for May: Last 14.
Advice:
Treasuries dropped for a third day before a report that economists said will show sales of existing
homes in the U.S. rose in April, weakening the case for the Federal Reserve to add to stimulus measures.
The central bank plans to sell as much as $8.75 billion of Treasuries due from March to September 2013 today, according to the Fed Bank of New York’s website. The sales are part of the program to replace $400 billion of shorter-term debt in its holdings with longer maturities by the end of June to help keep down borrowing costs.
So keep a close eye on Existing home sales, if come in under expectations we could see a bounce back in the market.
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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