Mortgage Rate Update 1-6-14: Trends Projections & Today's Best Rates

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

After rallying Friday afternoon, Mortgage Backed Securities have continued to improve following this morning's economic data. The ISM Services Index came in worse than expected, while factory orders were slightly above the consensus. Pricing has opened 0.125 - 0.250 better to all points/credits associated with any given interest rate option.

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 1-6-2014 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 an IMPROVEMENT to pricing. Friday's IMPROVEMENT netted a change of 16 basis points (bps).

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

Best Mortgage Rates in San Diego -

The following chart summarizes todays market activity:

 Best Mortgage Rates in San Diego -

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

 Best Mortgage Rates in San Diego -

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

Best Mortgage Rates in San Diego -

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.

 Best Mortgage Rates in San Diego -

Market Commentary (Neil Trenerry)


Cpn 3.0 Chg 0.1563 Bid 95.12500
Cpn 3.5 Chg 0.1563 Bid 99.51563
Cpn 4.0 Chg 0.1250 Bid 103.10938
UST 5 YR Chg 0.0938 Bid 98.96875 Yield 1.7150
UST 10 YR Chg 0.1875 Bid 98.06250 Yield 2.9780
UST 30 YR Chg 0.3594 Bid 97.18750 Yield 3.9100
Euro Bid 1.3611 Chg 0.0025
Pound Bid 1.6409 Chg -0.0003
Yen Bid 104.790 Chg -0.030
Light Crude
Last 93.90
Key Economic Data:
7:00: Durable Goods for Nov
Factory orders: Consensus 1.8%, Last -0.9%.
Ex-def: Last 3.5%.
Goods: Last 3.5%.
7:00: ISM N-Mfg PMI for Dec
Index: Consensus 54.5, Last 53.9.
Bus Act: Consensus 56.5, Last 55.5.
Employment Index: Last 52.5
New orders: Last 56.4.
Price paid: Last 52.2.
Treasuries rose as 10-year yields above 3 percent attracted buyers amid an uneven economic recovery and bets the Federal Reserve will maintain its pledge to keep its interest-rate target at record lows. Benchmark yields dropped from the highest level since July 2011 before reports this week forecast to show U.S. service industries expanded, while employers added fewer jobs. Janet Yellen is poised for confirmation by the Senate today as head of the central bank, which begins reducing its bond-buying program this month and will release minutes of its December policy-makers meeting on Jan. 8. The U.S. will sell $64 billion of Treasuries maturing in three, 10 and 30 years this week. The three-percent level in 10s is going to be a key level to breach in a down-trade, said Ian Lyngen, a government-bond strategist at CRT Capital Group LLC in Stamford, Connecticut. We havent sustainably been able to do that. The minutes may have a hawkish spin to them, keeping in mind the Fed decided to taper at this meeting. We might need a bit more of a setup to take down 10s and 30s at this level.
My position on MBS
Short term Neutral.
Long term Short.
I see rates starting to increase around the end of Q2.


Market Commentary (Dan Rawitch)


Mixed news today, probably a bit more wieghted on the bad side for bonds. I'd expect us to continue our sideways movement at least until we see the employment numbers on Friday, although...if we move up a bit more from 99.60, we could run up and test the broader side of the range, which is 100.
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

Comments (1)

Fred Cope
Reliant Realty in Nashville, TN - Nashville, TN
Looking For Homes With A Smile

Jason, you have lots of good info available to consumers.  Hope 2014 is a year of blessings.

I spent 25+ years as a mortgage loan officer in Nashville, Tennessee.  Rates can get crazy when uncertainty reigns in the Nations Capitol.  April 1, 1987 was my worst day.  Paul Volker was all over the place.  On that date, my manager called me into the office to lock down any floating loans.  When he told me rates has jumped 1.5%--I thought he meant points.  When he said :No, rates!", I said "April Fools."  It had to be, but it wasn't: rates did jump 1.5% that day.  It took about three weeks to settle back to market.  Stay ahead of the crowd.

Jan 06, 2014 12:03 PM