Mortgage Rate Update 12-20-13: Trends Projections & Today's Best Rates

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

The volatile rate atmosphere has continued this morning. Third quarter GDP was revised higher to 4.1% from 3.6%, far above the consensus. Mortgage Backed Securities dropped after the stronger than expected data, but then turned higher. The Dow is up 70 points. No more 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 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!

San Diego Mortgage Rates - Jason Gordon -

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Friday 12-20-2013 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 IMPROVEMENT to pricing. Thursday's SIGNIFICANT IMPROVEMENT netted a change of 38 basis points (bps)

(Note: Upward activity on these charts is GOOD, downward activity is BAD)

San Diego Mortgage Rates -

The following chart summarizes todays market activity:

 San Diego Mortgage Rates -

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

 San Diego Mortgage Rates -

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

 San Diego Mortgage Rates -

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.

 San Diego Mortgage Rates -

Market Commentary (Neil Trennery)

Cpn 3.0 Chg 0.2188 Bid 95.18750
Cpn 3.5 Chg 0.1563 Bid 99.54688
Cpn 4.0 Chg 0.1719 Bid 103.10938


UST 5 YR Chg -0.1172 Bid 99.22656 Yield 1.66000
UST 10 YR Chg 0.3125 Bid 98.70313 Yield 2.9030
UST 30 YR Chg 1.2344 Bid 98.40625 Yield 3.8400
Euro Bid 1.3650 Chg -0.0012
Pound Bid 1.6346 Chg -0.0023
Yen Bid 104.460 Chg 0.220
Light Crude
Last 98.95


Key Economic Data:
Corporate profits rev for Q3: Actual 2.4%, Consensus 3.3%, Last 2.6%.
GDP for Q3
Final: Actual 4.1%, Consensus 3.6%, Last 3.6%.
Sales: Actual 2.5%, Consensus 1.9%, Last 1.9%.
Consumer spending: Actual 2.0%, Last 1.4%.
Deflator: Actual 2.0%, Consensus 2.0%, Last 2.0%.
Core PCE prices: Actual 1.4%, Consensus 1.5%, Last 1.5%.
PCE prices: Actual 1.9%, Consensus 2.0%, Last 2.0%.
7:30 ECRI weekly index: Last 131.4.
8:00: KC Fed manufacturing: Last 11.


The U.S. economy expanded in the third quarter at a faster rate than previously estimated as consumers stepped up spending on services such as health care and companies invested more in software. Gross domestic product climbed at a 4.1 percent annualized rate, the strongest since the final three months of 2011 and up from a previous estimate of 3.6 percent, Commerce Department figures showed today in Washington. The median forecast of 72 economists surveyed by Bloomberg projected a 3.6 percent pace after 2.5 percent in the second quarter. Inventories accounted for a third of the gain in GDP in the third quarter, showing companies were confident about the prospects for demand. Stronger retail sales in October and November underscore the Federal Reserves view that the worlds
largest economy is improving. You have equity markets supporting household net worth, rising home values and also payroll gains and falling unemployment, so we do really look for consumption to start picking up, said Robert Rosener, associate economist at Credit Agricole CIB in New York, whose forecast for growth of 3.8 percent was the highest among those surveyed by Bloomberg. This is a very good sign for momentum going into the fourth quarter. Forecasts for GDP, the value of all goods and services produced in the U.S., ranged from gains of 3.3 percent to 3.8 percent, according to the Bloomberg survey. The GDP estimate is the third and final for the quarter. Stock-index futures held gains after the figures, with the contract on the Standard & Poors 500 Index expiring in March rising 0.2 percent to 1,805.8 at 8:40 a.m. in New York.


My position on MBS
Short term stays Neutral.
Long term Short.

Market Commentary (Dan Rawitch)

WOW...GDP hits 4.1% and Bonds rally. Go figure. If you needed proof that all markets hate uncertainty, you now have it. The uncertainty around tapering did tapering did considerabley more damage then the actual tapering. It is technically quite bullish that we held and bounced off of 99, after yesterday and today's good news.


I dont think we are ready to leave the channel just yet, but I can see us sliding sideways for a while, until the market can trust these levels.


Have a great day!


Here is today's video link:

Trusted Industry Advisor

San Diego Mortgage Rates - Jason 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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