Mortgage Rate Update 7-19-13: Trends Projections & Today's Best Rates

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

We closed yesterday down 25 basis points (bps). For those of you unclear what this means, essentially any particular interest rate that was available at 0 points when the market opened yesterday would likely be available at a cost of 0.25 point yesterday afternoon.  For example, on a $400,000 loan amount, a 25 bps worsening would increase the cost of that particular interest rate by $1000 ($400,000 x 0.25 = $1000). The market is slightly up in early morning trading today.

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 Friday 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 Thursday with a SIGNIFICANT WORSENING to pricing.  Thursday's SIGNIFICANT WORSENING netted a change of 25 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 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 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 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 Best Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary (Neil Trennery)

FNMA 30-Year:
2.5 Coupon: Open 92.8438 Change 0.2188
3.0 Coupon: Open 97.3281 Change 0.1875
3.5 Coupon: Open 101.0469 Change 0.2188
4.0 Coupon: Open 103.9688 Change 0.1563

Treasuries:
5 Year: Open 100.2500 Change 0.0469 Yield 1.3230
10 Year: Open 93.3906 Change 0.1719 Yield 2.5140
30 Year: Open 86.7813 Change 0.5625 Yield 3.6030

Key Economic Data
EUR/USD: Open 1.3115 Change 0.0008
GBP/USD: Open 1.5257 Change 0.0030
USD/JPY: Open 100.240 Change -0.160
Oil: Open 109.01

Key Economic Data:
7:30: ECRI weekly index: Last 130.3.
 
Advice:
Treasuries headed for a second weekly gain after Federal Reserve Chairman Ben S. Bernanke quelled concern that a reduction of U.S. stimulus was imminent. Bernanke has calmed things down and has done a pretty good job, said Barra Sheridan, a rates trader at Bank of Montreal in London. Were very much data dependent and have settled into a higher trading range for Treasuries.

My position on MBS stays Long.

Market Commentary (Dan Rawitch)

 

No News....but we I do like the charts today! Yesterday, we closed the gap as I thought we would, AND we managed to stay on the right side of the channel. THe opening this morning also keeps us in the channel. Considering some of the bond unfriendly news over the last couple of days, this is a bullish sign.

 

Lets see what the remainder of the day and next week brings us. For now...I believe we ride the channel

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

 

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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Rainmaker
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Dan Mincher, CCIM
The Vollman Company, Inc. - Sacramento, CA
Sacramento Commercial Real Estate

Your posts are always packed with data and good analysis.  Thanks for putting a lot of info in one easy to access blog.  All the best.

Jul 19, 2013 12:54 AM #1
Rainmaker
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Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE

Thanks Dan...much appreciated. Just trying to provide some clarity & transparency amidst all of the deceptive mortgage advertising campaigns that we are all constantly exposed to...

Jul 19, 2013 01:12 AM #2
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Rainmaker
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Jason E. Gordon

Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE
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