Mortgage Rate Update 7-10-12: Trends Projections & Todays Lowest Rates

By
Mortgage and Lending with AmeriFirst Financial Inc, San Diego, CA NMLS 259027

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.

Jason E. Gordon - Mortgage Rate Update - www.jasongordon.net

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)

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows the market activity for today:

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows market activity over the past 1 month:

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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.

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

 Market Commentary: Neil Trenerry

FNMA 30-Year:

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

 

Treasuries:

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%.

Redbook

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.

 

Advice:

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

Jason E Gordon, San Diego Residential Mortgage Specialist, www.ApprovingSD.com

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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