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 7-10-2012 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 an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's IMPROVEMENT 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: Neil Trenerry
3.0 Coupon: Previous Close 103.547 Open 103.516 Change -0.031
3.5 Coupon: Previous Close 105.891 Open 105.891 Change Flat
4.0 Coupon: Previous Close 107.000 Open 107.000 Change Flat
5 Year: Previous Close 100.617 Open 100.578 Change -0.039 Yield 0.632
10 Year: Previous Close 102.156 Open 102.047 Change -0.109 Yield 1.525
30 Year: Previous Close 107.844 Open 107.563 Change -0.281 Yield 2.632
Key Economic Data:
EUR/USD: Previous Close 1.2313 Open 1.2296 Change -0.0019
GBP/USD: Previous Close 1.5523 Open 1.5534 Change 0.0011
USD/JPY: Previous Close 79.540 Open 79.360 Change -0.180
Oil: Previous Close 85.99 Open 85.36 Change -0.63
Key Economic News:
NFIB business optimism for Jun: Actual 91.4, Last 94.4.
ICSC chain stores
Week-on-week: Actual 2.0%, Last 2.0%.
Year-on-year: Actual 3.0%, Last 1.4%.
Week-on-week: Actual -0.8%, Last 0.2%.
Year-on-year: Actual 2.2%, Last 1.7%.
7:00: IBD economic optimism for Jul: Last 46.7.
With no help on the news front, and concerns over Europe still lingering. I would expect the market to hold these levels.
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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