Mortgage Rate Update 6-25-13: Trends Projections & Today's Best Rates

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

We have had another volatile morning thus far today for Mortgage Backed Securities (stop me if you've heard this before). Consumer Sentiment, Durable Orders, and New Home Sales all came in stronger than expected. There will be a 2 Year Treasury Auction later this morning.

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 6-25-2013 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 a SIGNIFICANT IMPROVEMENT to pricing.  Monday's SIGNIFICANT IMPROVEMENT netted a change of 68 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 Lowest 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 Mortgage Rates - Jason E Gordon - www.JasonGordon.info

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 Best Mortgage Rates - Jason E Gordon - www.JasonGordon.info

Market Commentary (Neil Trenerry)

 

FNMA 30-Year:
2.5 Coupon: Open 92.0156 Change 0.2188
3.0 Coupon: Open 96.7813 Change 0.3594
3.5 Coupon: Open 100.5156 Change 0.4688
4.0 Coupon: Open 103.3125 Change 0.2344

 

Treasuries:
5 Year: Open 98.0313 Change 0.1797 Yield 1.4150
10 Year: Open 93.2188 Change 0.1406 Yield 2.5280
30 Year: Open 87.5156 Change 0.0156 Yield 3.5580

 

Key Economic Data
EUR/USD: Open 1.3107 Change -0.0011
GBP/USD: Open 1.5453 Change 0.0022
USD/JPY: Open 97.550 Change -0.170
Oil: Open 95.70

 

Key Economic Data:
CaseShiller for Apr
20 mm nsa: Actual 2.5%, Consensus 1.1%, Last 1.4%.
20 mm sa: Actual 1.7%, Consensus 1.2%, Last 1.1%.
20yy: Actual 12.1%, Consensus 10.6%, Last 10.9%.

 

Durable goods for May
Index: Actual 3.6%, Consensus 3.0%, Last 3.5%.
Ex-defense: Actual 3.5%, Last 2.3%.
Ex-transport: Actual 0.7%, Last 1.5%.
ICSC chain stores
Week-on-week: Actual 1.1%, Last 0.3%.
Year-on-year: Actual 1.6%, Last 2.5%.
Monthly home price index for Apr: Actual 200.8, Last 199.1.
Redbook
Month-on-month: Actual -0.5%, Last -0.4%.
Year-on-year: Actual 2.8%, Last 2.9%.
7:00: New home sales for May: Consensus 0.462m, Last 0.454m.
7:00: Consumer confidence for Jun: Consensus 75.4, Last 76.2.
7:30: Dallas Fed services reve for Jun: Last 11.8.

 

Advice:
Todays news should hurt the market, but I think we are seeing traders close out short position.
My position on MBS changes to Neutral.
Buy back short position.
(3.00cpn July @ 96*25 1/2)

 

Market Commentary (Dan Rawitch)


The Chinese pledged that they will avoid a crisis and a little bit of good economic news...and everything is fine again. BUT IT"S NOT FINE! Rates are still searching for a bottom and next months numbers will look terrible based on the fasted increase in rates since 1962. This has not happened for 50 years and that is not normal! Hopefully we can find a bottom in the next couple of days, so we can start our rebound rally. THere will be one...

Keep your head above the chaos. This will hurt but it will get better!!!

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

 

Jason E. Gordon

Branch Manager | Sr. Mortgage Loan Officer

CMPS, CDLP, RCS-D, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

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.

 

 

 

Recommended Links:

 

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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