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 Friday 6-15-2012 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 Thursday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday'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.
Market Commentary
Analyst: Neil Trenerry
FNMA 30-Year:
3.0 Coupon: Previous Close 102.375 Open 102.516 Change 0.141
3.5 Coupon: Previous Close 104.875 Open 105.016 Change 0.141
4.0 Coupon: Previous Close 106.250 Open 106.281 Change 0.031
Treasuries:
5 Year: Previous Close 99.539 Open 99.680 Change 0.141 Yield 0.691
10 Year: Previous Close 101.250 Open 101.453 Change 0.203 Yield 1.587
30 Year: Previous Close 105.938 Open 106.344 Change 0.406 Yield 2.690
Key Economic Data:
EUR/USD: Previous Close 1.2626 Open 1.2600 Change -0.0026
GBP/USD: Previous Close 1.5551 Open 1.5573 Change 0.0023
USD/JPY: Previous Close 79.380 Open 78.670 Change -0.7000
Oil: Previous Close 83.91 Open 83.78 Change -0.13
Key Economic News:
NY Fed manufacturing for Jun: Actual 2.29, Consensus 13.00, Last 17.09
Foreign buying of T-bonds for Apr: Actual 37.3b, Last 20.5b.
Capacity utilization for May: Actual 79.0%, Consensus 79.2%, Last 79.2%.
Industrial output for May: Actual -0.1%, Consensus 0.1%, Last 1.1%.
6:55: Univ of Mich for Jun:
Sentiment: Consensus 77.5, Last 79.3.
Conditions: Consensus 85.3, Last 87.2.
1-yr inflation: Last 3.0%
5-yr inflation: Last 2.7%.
7:30: ECRI weekly index: Last 121.6.
Advice:
With signs the economy is slowing and concerns over Europe. I would expect the markets to hold these levels
My position on MBS stays 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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