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 Friday 8-3-2012 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 Thursday with a NEUTRAL RESULT to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday'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
FNMA 30-Year:
3.0 Coupon: Previous Close 103.953 Open 103.563 Change -0.391
3.5 Coupon: Previous Close 106.063 Open 105.797 Change -0.266
4.0 Coupon: Previous Close 107.172 Open 107.063 Change -0.109
Treasuries:
5 Year: Previous Close 99.453 Open 99.234 Change -0.219 Yield 0.656
10 Year: Previous Close 102.469 Open 101.859 Change -0.625 Yield 1.546
30 Year: Previous Close 109.406 Open 107.656 Change -1.750 Yield 2.627
Key Economic Data:
EUR/USD: Previous Close 1.2180 Open 1.2267 Change 0.0089
GBP/USD: Previous Close 1.5514 Open 1.5540 Change 0.0026
USD/JPY: Previous Close 78.220 Open 78.700 Change 0.470
Oil: Previous Close 87.13 Open 89.14 Change 2.01
Key Economic News:
Payrolls for Jul
Non-farm: Actual 163k, Consensus 100k, Last 80k.
Manufacturing: Actual 25k, Consensus 10k, Last 11k.
Private: Actual 172k, Consensus 110k, Last 84k.
Government: Actual -9k, Last -4k.
Unemployment rate: Actual 8.3%, Consensus 8.2%, Last 8.2%.
Average earnings: Actual 0.1%, Consensus 0.2%, Last 0.3%.
Average workweek hrs: Actual 34.5h, Consensus 34.5h, last 34.5h.
7:00: ISM N-Mfg Bus Act for Jul: Consensus 52.1, Last 51.7.
7:30: ECRI weekly index: Last 122.8.
Advice:
With the Payrolls jumping more than expected, I expect this morning’s down turn was traders just closing some positions to protect profits. I would expect the market to recover next week.
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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