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 5-29-2012 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 WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's WORSENING 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
3.0 Coupon: Previous Close 101.719 Open 101.719 Change 0.000
3.5 Coupon: Previous Close 104.359 Open 104.391 Change 0.031
4.0 Coupon: Previous Close 106.094 Open 106.125 Change 0.031
5 Year: Previous Close 99.2328 Open 99.375 Change 0.047 Yield 0.753
10 Year: Previous Close 100.047 Open 100.172 Change 0.125 Yield 1.731
30 Year: Previous Close 103.109 Open 103.219 Change 1.109 Yield 2.840
Key Economic Data:
EUR/USD: Previous Close 1.2540 Open 1.2544 Change 0.0004
GBP/USD: Previous Close 1.5681 Open 1.5672 Change -0.0008
USD/JPY: Previous Close 79.460 Open 79.480 Change 0.0100
Gold: Previous Close 1568.80 Open 1575.40 Change 6.60
Oil: Previous Close 90.86 Open 91.21 Change 0.35
Key Economic News:
Midwest manufacturing for Apr: Actual 94.2, Last 92.2, revised 92.0.
CaseShiller for Mar: Actual 0.0%, Consensus 0.0%, Last -0.8%
7:00: Consumer confidence for Mar: Consensus 70.0, Last 69.2.
7:30: Dallas Fed mfg business index for May: Last -3.40.
Treasuries rose, extending a second monthly gain, after Spain said it may need to sell bonds to rescue Bankia group, increasing demand for the safest assets, and with little expected on the domestic front.
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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