This daily mortgage interest rate report has been designed to provide you with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired. Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns.
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Wednesday 9-12-2012 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 Tuesday with a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Tuesday's WORSENING resulted in a change of 3 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)
2.5 Coupon: Open 100.625 Change -0.156
The 2.5 Coupon price is indication only – we haven’t seen a trade at present.
3.0 Coupon: Open 103.203 Change -0.172
3.5 Coupon: Open 105.563 Change -0.094
4.0 Coupon: Open 106.797 Change -0.078
5 Year: Open 99.703 Change -0.109 Yield 0.686
10 Year: Open 98.891 Change -0.469 Yield 1.747
30 Year: Open 96.828 Change -1.266 Yield 2.911
Key Economic Data:
EUR/USD: Open 1.2854 Change 0.0048
GBP/USD: Open 1.6069 Change 0.0023
USD/JPY: Open 78.760 Change 0.1480
Oil: Open 97.33 Change 0.15
Key Economic News:
Market Index: Actual 853.1, Last 766.1.
Purchase: Actual 193.0, Last 178.4.
Refinance: Actual 4729.5, Last 4216.0.
30-yr Rate: Actual 3.75%, Last 3.78%.
Import prices for Aug: Actual 0.7%, Consensus 1.4%, Last -0.6%.
Export prices for Aug: Actual 0.9%, Consensus 0.4%, Last 0.5%.
7:00: Wholesale Inventories for Jul: Consensus 0.2%, Last -0.2%.
7:00: Wholesale sales for Jul: Consensus 0.7%, Last -1.4%.
Treasuries fell for a second day after Germany’s top constitutional court backed the ratification of Europe’s permanent bailout fund, damping demand for the safest assets. U.S.10-year yields climbed to a three-week high as the Federal Constitutional Court dismissed motions filed by groups seeking to block the fund, ending legal challenges that delayed efforts by euro-area leaders to contain the debt crisis. Treasuries also dropped before the U.S. sells $21 billion of 10-year notes today and the Federal Reserve starts a two-day policy meeting. German bunds also declined. “Treasuries are being dragged lower with bunds after the court verdict as safe assets are suffering across the board,” said Michael Leister, a fixed-income strategist at Commerzbank AG in London. “Focus will switch to U.S. domestic issues, with the Fed meeting coming under close scrutiny, as well as supplyaffecting the long-end maturities.”
My position on MBS changes to neutral.
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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