Mortgage Rate Update 6-14-13: Trends Projections & Today's Best Rates

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

June 14, 2013 03:41 AM

Rocky morning thus far on the heals of a very welcome improvement of 53 basis points on Thursday.

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 Friday 6-14-2013 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 Thursday with a SIGNIFICANT IMPROVEMENT to pricing. Thursday's SIGNIFICANT IMPROVEMENT netted a change of 53 basis points (bps).

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

The following chart shows the 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.

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 95.5938 Change 0.3594

3.0 Coupon: Open 100.7188 Change 0.3125

3.5 Coupon: Open 103.6875 Change 0.2813

Treasuries:

5 Year: Open 99.8906 Change 0.1563 Yield 1.0230

10 Year: Open 96.7031 Change 0.2500 Yield 2.1210

30 Year: Open 91.9844 Change 0.2813 Yield 3.2950

Key Economic Data

EUR/USD: Open 1.3319 Change -0.0056

GBP/USD: Open 1.5653 Change -0.0065

USD/JPY: Open 95.050 Change -0.310

Oil: Open 97.57

Key Economic Data:

Business Inventories for Apr: Actual 0.3%, Consensus 0.3%, Last 0.0%, Revised -0.1%.

Current Account for Q1: Actual -106.1b, Consensus -109.7b, Last -110.4b, Revised -102.3b.

Producer prices for May

Index: Actual 0.5%, Consensus 0.1%, Last -0.7%.

Inflation: Actual 1.7%. Consensus 1.4%, Last 0.6%.

Core mm: Actual 0.1%, Consensus 0.1%, Last 0.1%.

Core yy: Actual 1.7%, Consensus 1.7%, Last 1.7%.

Foreign buying, T-bonds for Apr: Actual -54.5b, Last 5.3b.

Overall net capital flow for Apr: Actual 12.7b, Last 2.1b.

Industrial output for May: Actual 77.6%, Consensus 77.9%, Last 77.8%.

Manuf output for May: Actual 0.1%, Consensus 0.1%, Last -0.4%.

6:55: Univ of Michigan for Jun

Sentiment: Consensus 84.5, Last 84.5.

Condition: Consensus 96.0, Last 98.0.

Expectation: Consensus 76.0, Last 75.8.

ECRI weekly index: Last 130.9.

Advice:

My position on MBS stays Short.

(3.00cpn July @ 99*9/32)

Contemplating putting on a long position to offset short position.

Market Commentary (Dan Rawitch)

http://www.ratewatch.com/ratewatchnow.html

Sweet! Nice rally yesterday and this morning. Next stop 101.00...if we get through that and specifically we need to get through 101.20, I think we are off to the races. The Fed is about to make darn sure people stop talking about a wind down, we are not ready. Keep in mind, I am still and always have been opposed to anything that prevents free and unmanipulated movement of the market. I can tell you most assuredly had the FED stayed out, the 10 and 30 year bonds would have fallen by the hands of the real market. Stocks would not have rallied and we would have had an inverted yield curve. So what! BUT...he started it, and now he has to finish it.

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.

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