Mortgage Rate Update 8-15-13: Trends Projections & Today's Best Rates

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

Very bad news for mortgage rates today as claims for jobless benefits unexpectedly dropped last week to the lowest levels in nearly 6 years, which indicates a healing economy. Although this news is great for America's economy, it is devastating for mortgage rates. As a result of this data, the market opened a whopping 66 basis points worse than yesterday's close.

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 Thursday 8-15-2013 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 Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon -

The following chart shows the activity thus far for today:

 Today's Best 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 Best Mortgage Rates - Jason E Gordon -

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

 Today's Lowest 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:
3.0 Coupon: Open 95.4688 Change -0.5781
3.5 Coupon: Open 99.5156 Change -0.5625
4.0 Coupon: Open 103.0000 Change -0.4375
5 Year: Open 99.2422 Change -0.2969 Yield 1.5340
10 Year: Open 97.5469 Change -0.6094 Yield 2.7830
30 Year: Open 96.7188 Change -1.0938 Yield 3.8090
Key Economic Data
EUR/USD: Open 1.3236 Change -0.0020
GBP/USD: Open 1.5549 Change 0.0054
USD/JPY: Open 98.320 Change 0.200
Oil: Open 107.65
Key Economic Data:
CPI for Jul
mm sa: Actual 0.2%, Consensus 0.2%, Last 0.5%.
Yy, nsa: Actual 2.0%, Consensus 2.0%, Last 1.8%.
Core mm, sa: Actual 0.2%, Consensus 0.2%, Last 0.2%.
Core, yy, nsa: Actual 1.7%, Consensus 1.7%, Last 1.6%.
Index, nsa: Actual 233.59, Consensus 233.67, Last 233.50.
Index, Core , sa: Actual 234.00, Last 233.64.
Real weekly earnings for Jul: Actual -0.5%, Consensus -0.3%, Last -0.1%.
NY Fed manufacturing for Aug: Actual 8.24, Consensus 10.0, last 9.64.
Initial jobless claims: Actual 320k, Consensus 355k, Last 333k, Revised 355k.
Jobless claims 4-week average: Actual 332k, Last 335.50k, Revised 336k.
Continued jobless claims: Actual 2.969m, Consensus 3.000m, Last 3018m, Revised 3.023m.
Foreign buying, T-bonds for Jun: Actual -40.8b, Last 11.3b.
Industrial output for Jul: 0.0%, Consensus 0.3%, last 0.3%, revised 0.2%.
Capacity utilization for Jul: Actual -0.1%, Consensus 0.3%, Last 0.3%, Revised 0.2%.
7:00: NAHB housing market index for Aug: Consensus 56, Last 57.
7:00: Philly Fed bus index for Aug: Consensus 15.0, Last 19.8.
8:30: Cleveland Fed CPI: Last 0.2%.
Claims for jobless benefits unexpectedly dropped last week to the lowest level in almost six years, signaling the U.S. job market continues to mend. The number of applications for unemployment insurance payments declined by 15,000 to 320,000 in the week ended Aug.10, the fewest since October 2007, from a revised 335,000, a Labor Department report showed today in Washington. The median forecast of 44 economists surveyed by Bloomberg called for 335,000. There was nothing unusual in the data and no states were estimated, a Labor Department spokesman said as the data was released to the press. The slowdown in firings may be a precursor to a pickup in hiring, which would bolster household incomes and spending. Fewer dismissals are also helping boost consumer confidence as growth in the worlds largest economy shows signs of picking up in the second half of 2013. The trend remains favorable, Ryan Sweet, an economist at Moodys Analytics in West Chester, Pennsylvania, said before the report. The job market has improved since the July payroll reading. Another Labor Department report today showed the consumer-price index increased 0.2 percent in July after a 0.5 percent gain the prior month. The advance matched the median forecast of 82 economists surveyed by Bloomberg. The core measure, which excludes food and fuel, also climbed 0.2 percent from June.
Contemplating going Long, I think the market over reacted to the unemployment numbers.
My position on MBS stays Neutral.

Market Commentary (Dan Rawitch)

While many of you were sleeping, we got ambushed! Dow is down 200 and bonds had a giant gap down, which blew right through a very established support level. The Problem started yesterday with more tapering talk and then was made worse with the huge improvement in jobless claims and then a big jump in the NAHB number.
We may be destined to retest the very lows, hopefully we get a nice bounce from there, as we have during the previous two tests of that level.
Here is today's video:

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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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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