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 which 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 7-30-2012 and will help you understand today's 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 WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's WORSENING resulted in a change of 15 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.
Analyst: Neil Trenerry
3.0 Coupon: Previous Close 103.469 Open 103.547 Change 0.078
3.5 Coupon: Previous Close 105.750 Open 105.813 Change 0.063
4.0 Coupon: Previous Close 107.000 Open 107.047 Change 0.047
5 Year: Previous Close 99.211 Open 99.266 Change 0.047 Yield 0.650
10 Year: Previous Close 101.766 Open 101.875 Change 0.109 Yield 1.543
30 Year: Previous Close 107.344 Open 107.859 Change 0.516 Yield 2.617
Key Economic Data:
EUR/USD: Previous Close 1.2333 Open 1.2247 Change -0.0086
GBP/USD: Previous Close 1.5740 Open 1.5690 Change -0.0051
USD/JPY: Previous Close 78.430 Open 78.180 Change -0.250
Oil: Previous Close 90.13 Open 89.98 Change -0.15
Key Economic News:
Midwest manufacturing for Jun: Actual 94.1, Last 93.4.
7:30: Dallas Fed Mfg Bus index for Jul: Last 5.80.
This is it! The week where the fate of the world is decided! If your first thought upon reading that was to be skeptical, you're on the right track. Still, there's a LOT going on this week and it has a lot of market moving potential. While the plethora of data and events might not decide the fate of the world, and while big-ticket events don't always live up to expectations, this is certainly one of the most POTENTIALLY action-packed weeks of the year. In fact, it would be a surprise to NOT see some big swings, especially in the last 3 days.
FOMC meeting Wednesday August 1st.
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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