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 Thursday 6-14-2012 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 Wednesday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Wednesday's IMPROVEMENT resulted in a change of 18 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 102.328 Open 102.250 Change -0.078
3.5 Coupon: Previous Close 104.844 Open 104.797 Change -0.047
4.0 Coupon: Previous Close 106.250 Open 106.219 Change -0.031
Treasuries:
5 Year: Previous Close 99.594 Open 99.594 Change 0.000 Yield 0.709
10 Year: Previous Close 101.375 Open 101.328 Change -0.047 Yield 1.608
30 Year: Previous Close 105.906 Open 105.891 Change -0.016 Yield 2.711
Key Economic Data:
EUR/USD: Previous Close 1.2504 Open 1.2524 Change 0.0021
GBP/USD: Previous Close 1.5569 Open 1.5543 Change -0.0026
USD/JPY: Previous Close 79.540 Open 79.320 Change -0.2200
Oil: Previous Close 83.32 Open 82.53 Change -0.79
Key Economic News:
CPI for May
Month-on-month: Actual -0.3%, Consensus -0.2%, Last 0.0%.
Core month-on-month: Actual 0.2%, Consensus 0.2%, Last 0.2%.
Real weekly earnings: Actual 0.1%, Last 0.0%.
Current account for Q1: Actual -137.3b, Consensus 132.3b. Last 124.1b.
Unemployment
Initial jobless claims: Actual 386k, Consensus 375k, Last 377k.
Jobless claims 4-week average: Actual 382k, Last 377.75k.
Continued jobless claims: Actual 3.278m, Consensus 3.269m, Last 3.293m.
Cleveland Fed CPI for May: Last 0.2%.
Advice:
Treasuries fluctuated as reports showing weekly claims for U.S. jobless benefits unexpectedly rose and inflation remained subdued added to speculation the Federal Reserve will seek to provide more monetary stimulus.Thirty-year bond yields had led losses as investors prepared for what may be a record low yield on today’s U.S. sale of $13 billion of the securities. An auction of 10-year notes yesterday drew a record low yield as investors continue to seek a refuge from Europe’s financial crisis. The Fed is scheduled to buy as much as $2.25 billion ofTreasuries due from February 2036 to May 2042.
My position on MBS changes to Long.
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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