Mortgage Rate Update 7-18-13: Trends Projections & Today's Best Rates

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

We had a slighlty favorable jobs report this morning which has begun to hurt mortgage pricing. At present, we are down 15 basis points after closing down 12 basis points yesterday.

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 over 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...share this report with those whom you care about!

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 7-18-2013 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 12 basis points (bps).

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

 Today's Best Mortgage Rates - Jason E Gordon - www.JasonGordon.info

The following chart shows the activity thus far for today:

 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 10 days (hint: green is good, red is bad):

 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 1 month:

 Today's Best 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 Trennery)

FNMA 30-Year:
2.5 Coupon: Open 92.8750 Change 0.1094
3.0 Coupon: Open 97.3125 Change -0.0871
3.5 Coupon: Open 101.0313 Change -0.0625
4.0 Coupon: Open 103.9219 Change -0.0469

Treasuries:
5 Year: Open 100.2891 Change -0.0156 Yield 1.3140
10 Year: Open 93.4375 Change -0.1406 Yield 2.5080
30 Year: Open 86.8594 Change -0.3281 Yield 3.5970

Key Economic Data
EUR/USD: Open 1.3079 Change -0.0044
GBP/USD: Open 1.5193 Change -0.0019
USD/JPY: Open 100.310 Change 0.740
Oil: Open 106.84

Key Economic Data:
Unemployment
Initial jobless claims: Actual 334k, Consensus 345k, Last 360k, revised 358k.
Jobless claims 4-week avg: Actual 346.00k, Last 351.75k.
Continued jobless claims: Actual 3.114m, Consensus 2.959m, Last 2.977m, Revised 3.023m.
7:00: Leading index chg for Jun: Consensus 0.3%, Last 0.1%.
7:00: Philly Fed business index for Jul: Consensus 7.8, Last 12.5.
15:00: SEMI book/bill ratio for Jun: Last 1.08.

Advice:
No real shock from Unemployment, so I would expect the market to continue to improve.
My position on MBS stays Long.

Market Commentary (Dan Rawitch)

 
Philly Fed was a big shocker this morning, we also had a more favorable than anticipated Jobless Claim number. This is pressuring bonds. I am not worried YET, becasuse as I mentioned yesterday, I expect to close the large gap up opening caused yesterday morning. That will mead a test of 100.75. This will also test our current upward trendline. If we bouce UP from the trendline, we will continue our rally. If we come through it, all bets are off, so be careful!

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, CDRE, 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

 

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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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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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