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Mortgage Rate Update 1-22-13: Trends Projections & Today's Best Rates

By Jason E. Gordon

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

January 22, 2013 12:46 AM

The market was closed yesterday in honor of Dr. Martin Luther King. Thus far today has been a strong gain of 12 basis points.

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 Tuesday 1-22-2013 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 was closed Monday.

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

The following chart shows market activity thus far 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.

Best Mortgage Rates in San Diego - Jason E Gordon, San Diego Residential Mortgage Specialist, www.ApprovingSD.com

Market Commentary

Market Analyst: Neil Trenerry

FNMA 30-Year:

2.5 Coupon: Open 100.8594 Change -0.1094

3.0 Coupon: Open 104.0469 Change -0.0938

3.5 Coupon: Open 105.9688 Change -0.0625

Treasuries:

5 Year: Open 99.8438 Change -0.1016 Yield 0.7820

10 Year: Open 97.8125 Change -0.2656 Yield 1.8720

30 Year: Open 94.0000 Change -0.5938 Yield 3.0590

Key Economic Data:

EUR/USD: Open 1.3318 Change 0.0006

GBP/USD: Open 1.5861 Change 0.0033

USD/JPY: Open 88.880 Change -0.700

Oil: Open 95.74

Key Economic Data:

National Activity Index for Dec: Actual 0.2, Last 0.10.

7:00: Existing Home sales for Dec: Consensus 5.10m, Last 5.05m.

7:00: Richmond Fed index for Jan

Comp index: Last 5

Service index: -2.

Manuf shipments: 6.

Advice:

Treasuries fell, following two weeks of gains, as economists said an industry report today will reveal U.S. home sales rose in December, damping demand for the relative safety of government debt. Longer-maturity bonds led declines before separate data this week forecast to show an index of leading economic indicators improved last month, even as lawmakers struggled to agree on increasing the U.S. debt ceiling. Demand for junk-rated corporate debt is at its highest in 19 months as investors seek higher-yielding alternatives to U.S. securities. The gradual improvement in housing data over the past months has been one of the drivers for the markets more constructive stance on U.S. growth, said Michael Leister, a fixed-income strategist at Commerzbank AG in London. We expect more pressure on Treasuries, with 10-year yields at 2% at the end of the first quarter. The benchmark 10-year yield rose two basis points, or 0.02% point, to 1.87% at 7:08 a.m. New York time, according to Bloomberg Bond Trader prices. The 1.625% note due in November 2022 fell 6/32, or $1.88 per $1,000 face amount, to 97 7/8. The 30-year bond yield also climbed two basis points, to 3.05%. U.S.

My position on MBS stays Long.

Market Analyst: Dan Rawitch

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

No News today. We have a bearish channel on the charts. I'd be careful if we hit 104.40ish and fail to break through.

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.

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