Mortgage Rate Update 1-9-14: Trends & Projections

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

It has been a fairly quiet morning thus far, although we have opened slightly worse than yesterday's closing. Weekly Jobless Claims declined to the consensus projection of 330K.  The European Central Bank (ECB) made no changes in rates, while the ECB President suggested that the ECB will hold rates low for the foreseeable future.

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 Wednesday 1-8-2014 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 Wednesday with a WORSENING to pricing. Wednesday's WORSENING netted a change of 9 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 Trenerry)

Cpn 3.0 Chg 0.0625 Bid 95.07813
Cpn 3.5 Chg 0.0625 Bid 99.56250
Cpn 4.0 Chg 0.0625 Bid 103.20313


UST 5 YR Chg 0.0469 Bid 98.78906 Yield 1.7550
UST 10 YR Chg 0.1406 Bid 98.09375 Yield 2.9750
UST 30 YR Chg 0.1719 Bid 97.67188 Yield 3.8820
Euro Bid 1.3566 Chg -0.0006
Pound Bid 1.6467 Chg 0.0018
Yen Bid 104.890 Chg 0.070
Light Crude
Last 92.76


Key Economic Data:
Challenger layoffs for Dec: Actual 30.625k, Last 45.314k.
Initial jobless claims: Actual 330k, Consensus 335k, Last 339k, Revised 345k.
Jobless claims 4-week avg: Actual 349.00k, Last 357.25k, Revised 358.75k.
Continued jobless claims: Actual 2.865m, Consensus 2,840m, Last 2.833m, Revised 2.815m.


The difference between Treasury 10-and 30-year yields was almost the narrowest in three years on speculation slow inflation will help boost demand at a bond sale today. The spread was about 90 basis points, after shrinking to 87 basis points in September, the least since June 2010. The U.S. is scheduled to sell $13 billion of 30-year securities, after auctioning $21 billion of 10-year notes yesterday and $30 billion of three-year debt on Jan. 7. The Federal Reserves preferred measure of inflation has been below its 2 percent target for 19 months. Policy makers have pledged to keep interest rate at almost zero even as they reduce asset purchases. Irrespective of the pressure toward higher yields, the markets have learned that if they advance too far, they will be counterbalanced by the Fed if the economy doesnt pick up in the same way, said Michael Markovich, head of global interest-rate research at Credit Suisse Group AG in Zurich. We need to see more encouraging data.


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


Market Commentary (Dan Rawitch)

Jobless claims are better than expected, but the Dow is off 70 and the Canadian Stock market just hit a 5 year low. Those two factors are helping bonds this morning. I dont expect too much price movement on bonds until tomorrow's employment numbers


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.

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