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Mortgage Rate Update 1-10-13: Trends Projections & Today's Best Rates

By
Mortgage and Lending with CMG Mortgage, San Diego, CA NMLS 259027

Wednesday ended with a mini-rally to close the market at a comfortable 12 basis point improvement.  Thus far this morning, we are slightly worsening with a 3 basis point drop.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals 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.

Jason E. Gordon - Mortgage Rate Update - www.jasongordon.net

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Thursday 1-10-2013 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 Wednesday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Wednesday's IMPROVEMENT netted a change of 12 basis points (bps).

(hint: upward activity is good, downward activity is bad)

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows the market activity thus far for today:

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

The following chart shows market activity over the past 1 month:

Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

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.

 Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary

Market Analyst: Neil Trennery

FNMA 30-Year:
2.5 Coupon: Open 101.2656 Change -0.1250
3.0 Coupon: Open 104.3281 Change -0.2188
3.5 Coupon: Open 106.1719 Change -0.1250

Treasuries:
5 Year: Open 99.7969 Change -0.1094 Yield 0.7920
10 Year: Open 97.5313 Change -0.259 Yield 1.9010
30 Year: Open 93.2188 Change -0.7188 Yield 3.1010

Key Economic Data:
EUR/USD: Open 1.3184 Change 0.0121
GBP/USD: Open 1.6092 Change 0.0071
USD/JPY: Open 88.160 Change 0.300
Oil: Open 94.45

Key Economic Data:
Unemployment
Initial jobless claims: Actual 371k, Consensus 365k, LT 372K.
Jobless claims 4-week average: Actual 365.75k, Last 360.00k.
Continued jobless claims: Actual 3.109m, Consensus 3.230m, Last 3.245m.
7:00: Wholesale Inventories for Nov: Consensus 0.3, Last 0.6%.
7:00: Wholesale sales for Nov: Consensus 0.6, Last -1.2%.

Advice:
With unemployment numbers coming in higher than expected, I would expect the market to improve thru the day.

My position on MBS stays Neutral.

Market Analyst: Dan Rawitch


Here is the link to todays video http://www.ratewatch.com/ratewatchnow.html

Fairly quiet morning.  Market is reacting negatively to positive Chinese trade data and a positive Spanish Auction. 

Trusted Industry Advisor

San Diego Residential Mortgage Specialist Jason E Gordon

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity.

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.

Click here for daily mortgage interest rate updates and projections for San Diego's best mortgage rates

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