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!
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Tuesday 10-8-2013 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 Monday with a WORSENING to pricing. Monday's WORSENING netted a change of 37 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart summarizes the activity of today thus far:
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.
Market Commentary (Neil Trenerry)
FNMA 30-Year:
3.0 Coupon: Open 97.3281 Change -0.1563
3.5 Coupon: Open 102.6250 Change -0.1094
4.0 Coupon: Open 104.8750 Change -0.0625
Treasuries:
5 Year: Open 99.7969 Change -0.0703 Yield 1.4170
10 Year: Open 98.7656 Change -0.1094 Yield 2.6430
30 Year: Open 98.4375 Change -0.2813 Yield 3.7110
Key Economic Data
EUR/USD: Open 1.3581 Change 0.0000
GBP/USD: Open 1.6104 Change 0.0012
USD/JPY: Open 97.120 Change 0.440
Oil: Open 103.66
Key Economic Data:
Redbook
MM: Actual -0.5%, Last -0.4%.
YY: Actual 3.3%, Last 3.8%.
7:00: IBD economic optimism for Oct: Last 46.0.
Advice:
Yields on Treasury three-year notes rose for a third day as the U.S. prepares to sell $30 billion of the securities in the first auction of coupon securities since the government shutdown. China and Japan, Americas largest foreign creditors with combined holdings of more than $2.4 trillion, raised pressure on the U.S. to resolve the impasse that has reached a week. Rates on Treasury bills due on Oct. 24 climbed as high as 0.23 percent, the most since they were issued in April, from negative 0.01 percent as recently as Sept. 27. Benchmark 10-year notes fell before the government sells $21 billion of the securities tomorrow and $13 billion of 30-year bonds on Oct. 10.
My position on MBS stays neutral.
Market Commentary (Dan Rawitch)
Not much to talk about today. A great deal of important data is not getting released, due to the shutdown.
We are drifting toward the bottom of the trading range, as twice we failed to break through the resistance.
I hope your day is GREAT!
Here is today's video:
http://www.ratewatch.com/ratewatchnow.html
Trusted Industry Advisor
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.
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