Mortgage Rate Update 5-16-13: Trends Projections & Today's Best Rates

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

After another tough day in the market yesterday, we are off to a strong start (with an early 30 basis point improvement).

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 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 -

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

The following information is current as of Thursday 5-15-2013 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 a WORSENING to pricing.  Wednesday's WORSENING 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 -

The following chart shows the activity thus far for today:

Today's Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon -

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 -

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

 Today's Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon -

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 -

Market Commentary (Neil Trenerry)

FNMA 30-Year:
2.5 Coupon: Open 99.1094 Change 0.5000
3.0 Coupon: Open 102.9844 Change 0.3438
3.5 Coupon: Open 105.4375 Change 0.2188
5 Year: Open 99.1563 Change 0.1406 Yield 0.7990
10 Year: Open 98.6563 Change 0.3750 Yield 1.8980
30 Year: Open 95.4219 Change 0.9219 Yield 3.1130
Key Economic Data
EUR/USD: Open 1.2904 Change 0.0015
GBP/USD: Open 1.5273 Change 0.0040
USD/JPY: Open 102.270 Change 0.030
Oil: Open 94.80
Key Economic Data:
CPI for Apr
CPI mm sa: Actual -0.4%, Consensus -0.2%, Last -0.2%.
CPI yy nsa: Actual 1/1%, Consensus 1.3%, Last 1.5%.
Core mm sa: Actual 0.1%, Consensus 0.2%, Last 0.1%.
Core yy nsa: Actual 1.7%, Consensus 1.8%, Last 1.9%.
Index nsa: Actual 232.53, consensus 232.71, Last 232.77.
Core Index sa: Actual 232.88, Last 232.76.
Real weekly earnings: Actual 0.0%, Last 0.5%.
Housing for Apr
Starts: Actual 0.853m, Consensus 0.973m, Last 1.036m, Revised 1.021m.
Permits: Actual 1.017m, Consensus 0.945m, Last 0.907m, Revised 0.890m.
Initial jobless claims: Actual 360k, Consensus 330k, Last 323k, Revised 328k.
Jobless claims 4-week average: Actual 339.25, Last 336.75, Revised 338.00k.
Continued jobless claims: Actual 3.009m, Consensus 3.000m, Last 3.005m, revised 3.013m.
7:00: Philly Fed business index for May: Consensus 2.4, Last 1.3.
With unemployment numbers higher, and Housing numbers coming in lower than expected, we should see some improvement in the market.
My position on MBS stays Neutral

Market Analyst (Dan Rawitch)

Here is the link to today's video:
Market is taking a bullish turn. I see 103.50 over the next few days. Unless..we see some surprising news!

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 or or more information.

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

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For more information on topics like this, please feel free to visit (an educational resource for Borrowers, Real Estate Agents, and Financial Professionals). Educational content provided by:


Jason E. Gordon

Branch Manager | Sr. Mortgage Loan Officer



Gordon Mortgage Group - AmeriFirst Financial Inc.


Office: 619-200-8031



11440 W. Bernardo Court, Ste. 300, San Diego, CA 92127


What People Are Saying About Jason Gordon

 Not all Mortgage Lenders are alike! Find out what Clients, Real Estate Agents and other Financial & Legal Professionals have to say about Jason Gordon.



Attention Real Estate Agents!

 Ever heard of a Lender having more "skin in the game" during escrow than a Buyer? Ever wish a Lender would put their money where their mouth is? Learn how the Protect Your Transaction (PYT) program will improve the negotiation leverage for a Buyer, as well as how PYT benefits the Seller & Realtors in this short video.




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To see if you qualify (and to obtain a current market interest rate quote), click here for a secure online loan application form.


Gordon Mortgage Group - AmeriFirst Financial


Licensed by the Department of Corporations under the California Residential Mortgage Lending Act.

AmeriFirst Financial Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS #145368) Toll free phone (877) 276-1974. Copyright 2012. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations may apply. AmeriFirst Financial is required to disclose the following licensing information. Please click here for licensing information. 




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Team Honeycutt
Allen Tate - Concord, NC

Thanks for sharing your mortgage rate update with us. It is helpful to know current information.


May 16, 2013 02:21 AM #1
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE

My pleasure Betty...thank you for your comment!

May 16, 2013 02:22 AM #2
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Jason E. Gordon

Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE
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