Mortgage Rate Update 9-20-13: Trends Projections & Today's Best Rates

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

Wednesday's "banner day" was unfortunately followed by a paltry 28 basis point correction on Thursday. Today has been fairly flat due to the absence of any economic reports.

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 9-20-2013 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 28 basis points (bps).

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

 San Diego Mortgage Rates - www.JasonGordonMortgage.com

The following chart summarizes the activity of today thus far:

Today's Lowest 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 Lowest 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 Lowest Interest Rates - San Diego Residential Mortgage Specialist - Jason E Gordon - www.ApprovingSD.com

Market Commentary (Dan Rawitch)

FNMA 30-Year:
3.0 Coupon: Open 96.2500 Change -0.1094
3.5 Coupon: Open 100.5469 Change -0.1094
4.0 Coupon: Open 103.8125 Change -0.0781
 
Treasuries:
5 Year: Open 100.0625 Change 0.0000 Yield 1.4870
10 Year: Open 97.8125 Change -0.0156 Yield 2.7560
30 Year: Open 96.8438 Change -0.0313 Yield 3.8000
 
Key Economic Data
EUR/USD: Open 1.3533 Change 0.0004
GBP/USD: Open 1.6011 Change -0.0019
USD/JPY: Open 99.470 Change 0.050
Oil: Open 105.56
Key Economic Data:
7:30: Weekly index: Last 132.3
 
Advice:
Treasuries erased gains as Federal Reserve Bank of St. Louis President James Bullard said a small tapering of the central banks $85 billion of month bond buying is possible next month. Benchmark 10-year notes earlier rose for the seventh time in eight days as Fed Chairman Ben S. Bernanke said Sept.18 the job market is still far from what he would like after the central bank kept monthly bond buying at $85 billion. Bullard, speaking today on Bloomberg Televisions Bloomberg Surveillance with Tom Keene and Michael McKee called October a live meeting, because its possible you could get some data that change the complexion of the outlook and could make the committee be comfortable with a small taper in October. Bullard is saying he cant rule out an October taper,
said David Robin, an interest-rate strategist in New York at Newedge USA LLC, an institutional- brokerage firm. Everybodys nerves are frayed. The market has gotten spooked.
 
My position on MBS stays Neutral.

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, 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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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Jason - Thank you for sharing an excellent blog about mortgage rate update Septmber 20, 2013, trends projections & today's best rates.

Sep 20, 2013 09:26 AM #1
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Jason E. Gordon

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