Mortgage Rate Update 6-24-13: Trends Projections & Today's Best Rates

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

The disturbing trend of rate increases is unfortunately continuing this morning.  On the heals of a traumatic 127 basis point worsening on Friday, we opened a whopping 106 basis points worse to begin the week. 

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 Monday 6-24-2013 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 Friday with a SIGNIFICANT WORSENING to pricing.  Friday's SIGNIFICANT WORSENING netted a change of 127 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 Mortgage Rates - 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 90.6250 Change -1.5469
3.0 Coupon: Open 95.4531 Change -1.2031
3.5 Coupon: Open 99.3125 Change -1.0156
4.0 Coupon: Open 102.4375 Change -0.8125


5 Year: Open 97.4297 Change -0.5313 Yield 1.5430
10 Year: Open 92.3125 Change -0.8125 Yield 2.6400
30 Year: Open 86.4063 Change -0.4688 Yield 3.6230


Key Economic Data
EUR/USD: Open 1.3069 Change -0.0053
GBP/USD: Open 1.5400 Change -0.0015
USD/JPY: Open 97.660 Change -0.230
Oil: Open 93.35


Key Economic Data:
No News


Not sure when this will top out.
My position on MBS stays Short.
(3.00cpn July @ 99*9/32)


I have added the FNMA 4.0 cpn to the daily list.


Market Commentary (Dan Rawitch)


No news today and still no bottom established. We are in uncharted waters down here but I can tell you the selling has slowed least for now. Next week is a huge news week AND we are just about due for a nice big retracement in the range of 300 basis points. Watch the selling volume, as it continues to slow and perhaps we get some bond friendly news next week, that could spark the retracement.


Sell what you have...remind people that things can still get much worse and that rates are still AMAZING! It is all a matter of perspective...your job is to sell the correct perspective. Your job is NOT to sell hope!

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.

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