Mortgage Rate Update 8-22-13: Trends Projections & Today's Best Rates

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

On the heals of a rough day for rates (69 basis point worsening), Jobless Claims came in slightly higher than expected this morning which has caused early market volatility.

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 8-22-2013 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 SIGNIFICANT WORSENING to pricing.  Wednesday's SIGNIFICANT WORSENING netted a change of 69 basis points (bps).

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

 Today's Best Mortgage Rates - 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 Interest Rates - San Diego Residential Mortgage Specialist - 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 94.2500 Change 0.0000
3.5 Coupon: Open 98.5156 Change 0.0625
4.0 Coupon: Open 102.0781 Change 0.0156
5 Year: Open 98.7109 Change -0.0313 Yield 1.6480
10 Year: Open 96.6563 Change -0.0313 Yield 2.8880
30 Year: Open 95.2813 Change 0.4688 Yield 3.8930
Key Economic Data
EUR/USD: Open 1.3342 Change -0.0016
GBP/USD: Open 1.5597 Change -0.0063
USD/JPY: Open 98.490 Change 0.830
Oil: Open 104.26
Key Economic Data:
Markit Mfg PMI Prelim for Aug: Actual 53.9, Consensus 54.0, last 53.7.
Initial jobless claims: Actual 336k, Consensus 330k, Last 320k, Revised 323k.
Jobless claims 4-week average: Actual 330.5k, Last 332.00k, Revised 332.75k.
Continued jobless claims: Actual 2.999m, Consensus 2.960m, Last 2.969m, Revised 2.970m.
Monthly home prices: Actual 0.7%, Last 0.7%.
7:00: Leading index chg for Jul: Consensus 0.5%, Last 0.0%.
8:00: KC Fed composite index for Aug: Last 6.
The fewest workers in more than five years applied for U.S. unemployment benefits over the past month, indicating the labor market continues to improve. The number of claims in the month ended Aug. 17 declined to 330,500 a week on average, the least since November 2007, a Labor Department report showed today in Washington. Compared with a week earlier, claims rose by 13,000 to 336,000, in line with the median forecast of 48 economists surveyed by Bloomberg. Firings are waning as employers hold on to workers to meet sales, which may be a precursor to bigger gains in payrolls once the effects of federal budget cuts and higher payroll taxes fade in the second half of 2013. Growth in employment, together with rising incomes, will help buoy consumer confidence and spending, which accounts for about 70 percent of the economy. The labor market continues to show improvement, Harm Bandholz, chief U.S. economist at UniCredit in New York, said before the report. Businesses will keep adding jobs because they do not feel the fiscal tightening has choked off the recovery.
My position on MBS stays Neutral.

Market Commentary (Dan Rawitch)

OUCH! Why can't the market stop overreacting? I suppose the Fed opened Pandoras box with his tapering talk and now he cant get the box closed, inspite of some pretty good efforts. At this point, either the FED is going to have say, "I regret my tapering comments and I have changed my mind" He wont say that, most likely. So, we need a series of very CLEAR market indicators that will allow the market to see how fragile the economy is. Sadly, it could take a Greek dept default or a 20% or more DOW crash, to get the market back to the reality that we are not ready for high rights. We cannot sustain growth without low rates.
Market equilibrium could come slowly. Sell what you have and remind your clients that these rates are still AMAZINGLY low!
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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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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