Mortgage Rate Update 7-24-13: Trends Projections & Today's Best Rates

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

Stronger than expected manufacturing data in Europe has hurt global bonds, including Mortgage Backed Securities (MBS) this morning.  Favorable New Home Sales data pushed MBS even lower.  As a result, pricing opened +/- 0.375 worse today. There will be a 5 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 over 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...share this report with those whom you care about!

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 Wednesday 7-24-2013 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 Tuesday with a NEUTRAL RESULT to pricing.  Tuesday's NEUTRAL RESULT netted a change of 0 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 Lowest Interest Rates - San Diego Residential Mortgage Specialist - 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 Best 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 Trennery)


FNMA 30-Year:
2.5 Coupon: Open 92.1563 Change -0.7813
3.0 Coupon: Open 96.6250 Change -0.7500
3.5 Coupon: Open 100.5938 Change -0.5938
4.0 Coupon: Open 103.6719 Change -0.4531
5 Year: Open 100.0547 Change -0.2500 Yield 1.3650
10 Year: Open 92.8750 Change -0.5781 Yield 2.5770
30 Year: Open 86.2188 Change -0.9219 Yield 3.6340
Key Economic Data
EUR/USD: Open 1.3215 Change -0.0005
GBP/USD: Open 1.5332 Change -0.0035
USD/JPY: Open 100.210 Change 0.820
Oil: Open 106.48
Key Economic Data:
Mortgage Market
Index: Actual 513.3, Last 519.4.
Purchase: Actual 198.5, Last 202.7.
Refinance: Actual 2336.2, Last 2351.7.
30-yr rate: 4.58%, Last 4.68%.
Markit Mfg PMI Prelim for Jul: Actual 53.2, Consensus 52.5, Last 51.9.
7:00: New home sales for Jun: Consensus 0.482m, Last 0.476m.
10-year Treasuries dropped for a second day after gauges of euro area services and manufacturing beat analyst estimates, adding to signs growth is recovering and damping demand for the safest assets. Shorter-maturity notes slid as investors awaited a report that economists forecast will show new-home sales picked up in June, and before the government sells $35 billion of 5-year debt. An auction of 2-year securities yesterday attracted below-average demand. The extra yield investors require to buy corporate bonds instead of Treasuries shrank to a 7-week low as traders bet the Federal Reserve will maintain support for the economy even if it tapers debt purchases.
My position on MBS stays Long.
( I believe this is a short term bounce).


Market Commentary (Dan Rawitch)

What a crappy opening for MBS this morning. Giant gap down. Why? Because the DOW futures were signaling another good opening for Stocks, thus putting the "Risk on" mentality back into the market. Also, Euro PMI was positive. Although I hope to close the gap down, we now have a head wind, created by a far better than expected New Home Sales number.

If we close the gap, we have a chance at turning the Head and Shoulders formation around and perhaps sneaking back into the upward channel.

I want to believe that, but with such a bearish opening, it is a little hard to believe right now.

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.

Click here for daily mortgage interest rate updates and projections for San Diego's best mortgage rates

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Jason E. Gordon

Branch Manager | Sr. Mortgage Loan Officer



Gordon Mortgage Group - AmeriFirst Financial Inc.


Office: 619-200-8031



11440 W. Bernardo Court, Ste. 300, San Diego, CA 92127


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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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