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 7-24-2012 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's WORSENING 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 104.156 Open 104.063 Change -0.109
3.5 Coupon: Previous Close 106.250 Open 106.188 Change -0.063
4.0 Coupon: Previous Close 107.297 Open 107.234 Change -0.063
5 Year: Previous Close 100.914 Open 100.836 Change -0.078 Yield 0.578
10 Year: Previous Close 102.875 Open 102.641 Change -0.234 Yield 1.460
30 Year: Previous Close 110.125 Open 109.703 Change -0.461 Yield 2.530
Key Economic Data:
EUR/USD: Previous Close 1.2114 Open 1.2096 Change -0.0018
GBP/USD: Previous Close 1.5505 Open 1.5532 Change 0.0027
USD/JPY: Previous Close 78.360 Open 78.250 Change -0.110
Oil: Previous Close 88.14 Open 88.15 Change 0.01
Key Economic News:
ICSC chain stores
Week-on-week: Actual 1.0%, Last 0.0%.
Year-on-year: Actual 3.3%, Last 2.6%.
Month-on-month: Actual -1.3%, Last -1.1%.
Year-on-year: Actual 1.3%, Last 1.7%.
PMI for Jul: Actual 51.8, Consensus 52.0, Last 52.5.
7:00: Monthly Home Price index for May: Last 186.8%.
7:00: Richmond Fed index for Jul: Last 9.
With no help from the news, and concerns over Europe. I expect the market to continue to improve.
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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