Mortgage Rate Update 12-23-13: Trends Projections & Today's Best Rates

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

It has been a fairly quiet morning thus far in relation to market movement. November Core PCE inflation matched the consensus with an increase of 0.1% from October (only 1.1% higher than 1 year ago). Personal income came in weaker than expected. Consumer sentiment also came in slightly below expectations. The Dow is up 75 points, mortgage pricing is +/- .125 from Friday'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!

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 Monday 12-23-2013 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 Friday with a SIGNIFICANT IMPROVEMENT to pricing. Friday's SIGNIFICANT IMPROVEMENT netted a change of 54 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 -0.0156 Bid 95.46875
Cpn 3.5 Chg -0.0625 Bid 99.78125
Cpn 4.0 Chg 0.0156 Bid 103.26563


UST 5 YR Chg -0.0078 Bid 99.12500 Yield 1.6830
UST 10 YR Chg -0.0625 Bid 98.68750 Yield 2.9020
UST 30 YR Chg 0.0625 Bid 98.70313 Yield 3.8240
Euro Bid 1.3692 Chg 0.0022
Pound Bid 1.6336 Chg 0.0003
Yen Bid 103.950 Chg -0.130
Light Crude
Last 99.16


Key Economic Data:
PCE for Nov
Personal Consump: Actual 0.5, Last 0.3, Revised 0.4%.
Personal Income: Actual 0.2%, Consensus 0.5%, Last -0.1%.
Consumption, adjusted: Actual 0.5%, Consensus 0.5%, Last 0.3%, Revised 0.4%.
Core PCE price index YY: Actual 1.1%, Last 1.1%.
Core PCE price index MM: Actual 0.1%, Consensus 0.1%, Last 0.1%
PCE price index YY: Actual 0.9%, Last 0.7%.
PCE price index MM: Actual 0.0%, Last 0.0%.
Natioanl activity index for Nov: Actual 0.60, Last -0.18, Revised -0.07.
6:55 Univ if Michigan for Dec
Sentiment final: Consensus 83.0, Last 82.5
Conditions: Consensus 98.1, Last 97.9.
Expectations: Consensus 75.0, Last 72.7.
1yr Inflation: Last 3.0%.
5yr inflation: 2.8%.


Treasury five-year note yields rose to a three-month high amid speculation strengthening U.S. growth will prompt the Federal Reserve to slow down and halt its asset purchases by the end of next year. Benchmark 10-year yields were at almost the highest since September as data showed U.S. consumer spending rose in November by the most in five months. The Fed will reduce its monthly asset purchases in $10 billion increments over the next seven meetings before ending the program in December 2014, according to the median forecast of analysts surveyed by Bloomberg News. It seems more than likely hat Fed will continue on a relatively smooth pace of increasing the taper, said Owen Callan, an analyst at Danske Bank A/S in Dublin. The fives is the area which is going to be the most difficult to call, to see how far out the Fed can extend their forward guidance. Yields on five-year notes rose as much as four basis points, or 0.04 percentage point, to 1.71 percent, the highest since Sept. 13, before trading at 1.67 percent at 8:34 a.m. New York time, according to Bloomberg bond trader prices. The 10-year yield rose one basis point to 2.90 percent after touching 2.96 percent last week for the first time since Sept. 11. It may increase to 3.25 percent in the first quarter as long as the data continues to improve and shows the U.S. on some kind of recovery path, Callan said. The yield gap between five- and 30-year debt shrank to 214 basis points, the narrowest spread since Sept. 13, based on closing-market data.


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

Market Commentary (Dan Rawitch)

Michigan Sentiment was a slight miss today, as was personal income and consumer spending. Bonds contnue to show signs of post tapering strength, I see us moving sideways and out of the channel. This could produce a bullish picture as we digest the tapering into the new year and prepare us for a climb back up to previous highs. Be cautious of light holiday type trading for the next few days, it can create volitility and artifical highs and lows.


I am taking this week off but will do my best to record twice between now and new years.


Have a great Holiday with your family and thanks for all of your support and kind words throughout this year!


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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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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