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 7-5-2012 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 Tuesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING resulted in a change of 15 basis points (bps).
(hint: upward activity is good, downward activity is bad)
In honor of the 4th of July holiday, the market was closed yesterday:
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 102.797 Open 102.875 Change 0.078
3.5 Coupon: Previous Close 105.297 Open 105.391 Change 0.094
4.0 Coupon: Previous Close 106.625 Open 106.703 Change 0.078
5 Year: Previous Close 100.258 Open 100.414 Change 0.148 Yield 0.665
10 Year: Previous Close 101.547 Open 101.453 Change -0.109 Yield 1.592
30 Year: Previous Close 105.234 Open 105.453 Change 0.641 Yield 2.712
Key Economic Data:
EUR/USD: Previous Close 1.2525 Open 1.2377 Change -0.0148
GBP/USD: Previous Close 1.5593 Open 1.5517 Change -0.0076
USD/JPY: Previous Close 79.850 Open 79.930 Change 0.080
Oil: Previous Close 87.66 Open 86.97 Change -0.69
Key Economic News:
Index: Actual 816.7, Last 875.1
Purchase Index: Actual 186.5, Last 185.4
Refinance Index: Actual 4524.1, Last 4938.3.
30-yr rate: Actual 3.86%, Last 3.88%.
Challenger layoffs for Jun: Actual 37.6k, Last 61.9k.
ADP National Employment for Jun: Actual 176.0k, Consensus 105k, Last 133k.
Initial jobless claims: Actual 375k, Consensus 385k, Last 386k.
Jobless claims 4-week average: Actual 385.75k, Last 386.75k.
Continued claims: Actual 3.306m, Consensus 3.300m, Last 3.296m
ISM for Jun: Actual 51.7, Consensus 55.0, Last 55.6.
With unemployment holding at these levels, I would expect the market to hold these levels and possible improve.
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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