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 Monday 7-16-2012 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 Friday with a NEUTRAL RESULT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's NEUTRAL RESULT resulted in a change of 0 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 103.328 Open 103.563 Change 0.234
3.5 Coupon: Previous Close 105.672 Open 105.859 Change 0.188
4.0 Coupon: Previous Close 106.859 Open 106.953 Change 0.094
5 Year: Previous Close 100.586 Open 100.789 Change 0.203 Yield 0.588
10 Year: Previous Close 102.281 Open 102.719 Change 0.438 Yield 1.452
30 Year: Previous Close 108.594 Open 109.844 Change 1.250 Yield 2.528
Key Economic Data:
EUR/USD: Previous Close 1.2254 Open 1.2236 Change -0.0018
GBP/USD: Previous Close 1.5566 Open 1.5601 Change 0.0035
USD/JPY: Previous Close 79.230 Open 78.770 Change -0.450
Oil: Previous Close 87.10 Open 87.20 Change 0.10
Key Economic News:
NY Fed manufacturing for Jul: Actual 7.39, Consensus 4.00, Last 2.29.
Retail Sales for Jun
Index: Actual -0.5%, Consensus 0.2%, Last -0.2%.
Ex-Autos: Actual -0.4%, Consensus 0.0%, Last -0.4%.
7:00: Business inventors for May: Consensus 0.2%, Last 0.4%.
With Retail down rather than the forecasted improvement, and Business inventors expected to decline.
I would expect the market to improve thru the day.
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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