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 Thursday 8-2-2012 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 Wednesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Wednesday's WORSENING resulted in a change of 12 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
FNMA 30-Year:
3.0 Coupon: Previous Close 103.797 Open 104.000 Change 0.203
3.5 Coupon: Previous Close 105.953 Open 106.109 Change 0.156
4.0 Coupon: Previous Close 107.125 Open 107.219 Change 0.094
Treasuries:
5 Year: Previous Close 99.289 Open 99.484 Change 0.195 Yield 0.605
10 Year: Previous Close 101.906 Open 102.438 Change 0.531 Yield 1.481
30 Year: Previous Close 107.953 Open 109.359 Change 1.406 Yield 2.549
Key Economic Data:
EUR/USD: Previous Close 1.2224 Open 1.2186 Change -0.0042
GBP/USD: Previous Close 1.5535 Open 1.5532 Change -0.0003
USD/JPY: Previous Close 78.430 Open 78.230 Change -0.320
Oil: Previous Close 88.91 Open 87.81 Change -1.10
Key Economic News:
Challenger layoffs for Jul: Actual 36.9k, Last 37.6k
Unemployment
Initial jobless claims: Actual 365k, Consensus 370k, Last 353k.
Jobless claims 4-wk avg: Actual 365.50k, Last 367.25k.
Continued jobless claims: Actual 3.272m, Consensus 3.29m, Last 3.287m.
6:45: ISM New York index for Jul: Last 557.2.
7:00: Durable goods for Jun
Factory orders: Consensus 0.5%, Last 0.7%.
Ex-transport: Last -1.1%.
Ex-defense: Last -0.7%.
Advice:
With all eyes on the ECB and unemployment taking a hit. Unless Durable goods has a big upset, I would expect the market to hold these levels and possibly 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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