Home > Blogs > Jason E. Gordon > Mortgage Street Smarts

Mortgage Rate Update 8-14-13: Trends Projections & Today's Best Rates

By Jason E. Gordon

Mortgage and Lending with CMG Mortgage, San Diego, CA NMLS 259027

August 14, 2013 02:44 AM

PPI Inflation data came in below expectations, but had little impact on Mortgage Backed Security pricing. Temper your expectations for a bounceback today (after a couple of rough days) due to the fact that further economic data will be released 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 Wednesday 8-14-2013 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 SIGNIFICANT WORSENING to pricing. Tuesday's SIGNIFICANT WORSENING netted a change of 28 basis points (bps).

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

The following chart shows the activity thus far for today:

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

The following chart shows market activity over the past 1 month:

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 91.4688 Change -0.0938

3.0 Coupon: Open 96.0781 Change 0.0938

3.5 Coupon: Open 100.1250 Change 0.1094

4.0 Coupon: Open 103.4375 Change 0.1094

Treasuries:

5 Year: Open 99.5703 Change 0.0781 Yield 1.4650

10 Year: Open 98.1563 Change 0.0781 Yield 2.7140

30 Year: Open 97.7344 Change 0.1406 Yield 3.7510

Key Economic Data

EUR/USD: Open 1.3265 Change 0.0002

GBP/USD: Open 1.5508 Change 0.0060

USD/JPY: Open 98.230 Change 0.040

Oil: Open 106.27

Key Economic Data:

Mortgage Market

Index: Actual 471.9, Last 495.4.

Purchase: Actual 182.7, Last 193.1.

Refinance: Actual 2145.3 Last 2244.7.

30-yr Rate: Actual 4.56%, Last 4.61%.

PPI for Jul

Index: Actual 0.0%, Consensus 0.3%, Last 0.8%.

Inflation: Actual 2.1%, Consensus 2.4%, Last 2.5%.

Core mm: Actual 0.1%, Consensus 0.2%, Last 0.2%.

Core yy: Actual 1.2%, Consensus 1.4%, Last 1.7%.

Advice:

Treasuries rose after a government report showed producer prices were little changed in July. Government securities had gained earlier as investors judged a 14 basis-point jump in yields in the past two days as excessive. Ten-year yields climbed the most in more than a week yesterday after data showed retail sales increased in July for a fourth month, adding to speculation the economy is strengthening enough for the Federal Reserve to reduce its stimulus program.

My position on MBS stays Neutral.

Market Commentary (Dan Rawitch)

We could not recover from yesterdays retail sales surprise, yesterday. The good news is that we did hold the bottom of the range. Today's PPI, should provide some support at that bottom, as it come in lower than expected.

It will take a weak jobless claim number to move us from the lower end of the range. A strong number could provide a forceful test of the bottom.

Here is today's video:

http://www.ratewatch.com/ratewatchnow.html

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