Mortgage Rate Update 6-27-13: Trends Projections & Today's Best Rates

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

Mortgage Backed Securities (MBS) have continued yesterday's rally as of this morning.  A number of Fed Officials have suggested over the past couple of days that Investors have overreacted to the most recent Fed announcement, which has helped MBS. Pricing is on average 0.250 better in fees/credits than where we closed yesterday (depending on loan product).

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 Thursday 6-27-2013 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 3 basis points (bps).

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

 Today's Best 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 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 92.4375 Change 0.6904
3.0 Coupon: Open 97.1719 Change 0.3281
3.5 Coupon: Open 100.9688 Change 0.3438
4.0 Coupon: Open 103.7656 Change 0.3125

 

Treasuries:
5 Year: Open 99.8125 Change 0.1836 Yield 1.4140
10 Year: Open 93.4844 Change 0.3594 Yield 2.4980
30 Year: Open 87.6719 Change 0.6250 Yield 3.5450

 

Key Economic Data
EUR/USD: Open 1.3034 Change 0.0023
GBP/USD: Open 1.5249 Change -0.0067
USD/JPY: Open 98.270 Change 0.540
Oil: Open 95.96

 

Key Economic Data:
PCE for May
Personal Consup: Actual 0.2%, Last 0.1%, Revised -0.1%.
Personal Income: Actual 0.5%, Consensus 0.2%, Last 0.0%, Revised 0.1%.
Consumption adjusted: Actual 0.3%, Consensus 0.3%, Last -0.2%, Revised -.03%.
Core PCE price index: Actual 1.1%, Last 1.1%.
PCE index: Actual 0.1%, Last -0.3%.
Unemployment
Initial jobless claims: Actual 346k, Consensus 345k, Last 354k, Revised 355k.
Jobless claims 4-week avg: Actual 345.75, Last 348.25k, Revised 348.50k.
Continued jobless claims: Actual 2.965m, Revised 2.950m, Last 2.951m, Revised 2.966m.
Midwest manufacturing for May: Actual 95.8, Last 95.9, Revised 96.2.
7:00: Pending home sales for May: Last 106.0.
8:00: KC Fed manufacturing for Jun: Last 5.

 

Advice:
The market opened stronger this morning, I expect to see the rally continue thru the day.

 

My position on MBS stays Long.
( FNMA 3.00 Jul @ 99*31 )

Market Commentary (Dan Rawitch)


Fear is slowly leaving the market place and we have a nice looking V bottom, combined with a trend reversal of three days of higher highs higher lows.

Be careful, this thing is still volitile and can still whipsaw you!

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

Comments (0)