Mortgage Rate Update 5-14-13: Trends Projections & Today's Best Rates

By
Mortgage and Lending with AmeriFirst Financial Inc, San Diego, CA NMLS 259027

Monday's mortgage rates flirted with improvement throughout the day, only to settle a mild 6 basis points into positive territory. In early trading Tuesday, we find ourselves down 9 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.  To make things easier, I have also posted a quick report on How To Read The Charts Below.

Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with 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). Remember, we all make better decisions in life when we have the actual facts to analyze!

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 5-14-2013 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 Monday with an IMPROVEMENT to pricing.  Monday's IMPROVEMENT netted a change of 6 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 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 Best 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 Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary (Neil Trenerry)

FNMA 30-Year:

2.5 Coupon: Open 99.1250 Change 0.2188

3.5 Coupon: Open 105.4844 Change 0.0781

3.0 Coupon: Open 103.0938 Change 0.171

 

Treasuries:
5 Year: Open 99.1172 Change 0.0703 Yield 0.8070
10 Year: Open 98.6719 Change 0.1875 Yield 1.8980
30 Year: Open 95.5313 Change 0.4063 Yield 3.1060

 

Key Economic Data
EUR/USD: Open 1.2972 Change -0.0003
GBP/USD: Open 1.5271 Change -0.0025
USD/JPY: Open 101.730 Change -0.090
Oil: Open 94.74

 

Key Economic Data:
NFIB business optimism for Apr: Actual 92.1., Last 89.50.
ICSC chain stories
Week-on-week: Actual -2.0%, Last -1.0%.
Year-on-year: Actual 1.2%, Last 2.4%.
Import prices for Apr: Actual -0.5%, Consensus -0.5%, Last -0.5%, Revised -0.2%.
Export prices for Apr: Actual -0.7%, Consensus -0.2%, Last -0.4%, Revised -0.5%.
Redbook
Month-on-month: Actual 0.7%, Last -2.5%.
Year-on-year: Actual 2.8%, Last 2.3%.

 

Advice:
After yesterdays sell off, I expect to see some bounce thru the day ahead of the PPI numbers coming out tomorrow.
My position on MBS stays Neutral.

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. All Market Commentary is provided via The Mortgage Coach and/or their RateWatch technology software.

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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