Mortgage Rate Update 1-13-14: Trends & Projections

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

Nice opening today for mortgage rates! We are approximately 0.250 - 0.375 BETTER in terms of any points/credits associated with each 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 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!

San Diego Mortgage Rates - Jason Gordon - www.JasonGordonMortgage.com

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

The following information is current as of Monday 1-13-2014 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 a SIGNIFICANT IMPROVEMENT to pricing. Friday's SIGNIFICANT IMPROVEMENT netted a change of 28 basis points (bps).

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

San Diego Mortgage Rates - www.GordonMortgage.com

The following chart summarizes todays market activity:

 San Diego Mortgage Rates - www.GordonMortgage.com

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

 San Diego Mortgage Rates - www.GordonMortgage.com

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

San Diego Mortgage Rates - www.GordonMortgage.com

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 - www.GordonMortgage.com

Market Commentary (Neil Trenerry)

FNMA
Cpn 3.0 Chg 0.0313 Bid 95.82188
Cpn 3.5 Chg 0.0313 Bid 100.25000
Cpn 4.0 Chg 0.0000 Bid 103.76563

 

Treasury
UST 5 YR Chg 0.0313 Bid 99.45313 Yield 1.6150
UST 10 YR Chg -0.0156 Bid 99.06250 Yield 2.8600
UST 30 YR Chg -0.0469 Bid 99.04688 Yield 3.8030

 

Currency
Euro Bid 1.3646 Chg -0.0023
Pound Bid 1.6364 Chg -0.0116
Yen Bid 103.330 Chg -0.780
Light Crude
Last 91.95

 

Key Economic Data:
11:00: Federal budget for Dec: Consensus 44.0b, Last -135.2b.

 

Advice:
Treasury 10-year note yields reached the lowest level in three weeks before reports this week that economists said will show U.S. retail-sales growth slowed and inflation was in check. The yield difference between two- and 10-year notes narrowed to the least since November as investors scaled back economic-growth assumptions. Benchmark yields dropped the most since September on Jan. 10 after a Labor Department report that showed U.S. payrolls increased at the slowest pace since January 2011. Bill Gross, who runs the worlds biggest bond fund at Pacific Investment Management Co., increased holdings of Treasuries and government-related debt in the firms Total Return Fund last month to the highest level since July 2010.

 

Theres a little bit of an event risk in tomorrows retail sales, only because of the weaker employment report, said Ian Lyngen, a government-bond strategist at CRT Capital Group LLC in Stamford, Connecticut. Over the next several weeks, I expect the 2.79 to 2.97 percent range to be the predominant parameters for the 10-year yield, he said. Benchmark 10-year yields were little changed at 2.86 percent as of 8:46 a.m. New York time, Bloomberg Bond Trader data show. The price of the 2.75 percent note due in November 2023 was at 99 2/32. The yield touched 2.85 percent, the least since Dec. 23.

 

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

Market Commentary (Dan Rawitch)

No news today, but bonds are seeing some follow through from Fridays terrible employment numbers. I would look for some resistance around the 100.60 level. We have a lot of news coming out this week, so as always, stay alert.

 

Here is today's video link:

Trusted Industry Advisor

San Diego Mortgage Rates - Jason Gordon - www.JasonGordonMortgage.com

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.GordonMortgage.com or www.ApprovingSD.com or more information.

Click here for daily mortgage interest rate updates and projections for San Diego's best mortgage rates

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For more information on topics like this, please feel free to visit www.GordonMortgage.com (an educational resource for Borrowers, Real Estate Agents, and Financial Professionals). Educational content provided by:

 

Jason E. Gordon

Branch Manager | Sr. Mortgage Loan Officer

CMPS, CDLP, RCS-D, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

11440 W. Bernardo Court, Ste. 300, San Diego, CA 92127

 

What People Are Saying About Jason Gordon

 Not all Mortgage Lenders are alike! Find out what Clients, Real Estate Agents and other Financial & Legal Professionals have to say about Jason Gordon.

 

 

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.

 

 

 

Recommended Links:

 

To see if you qualify (and to obtain a current market interest rate quote), click here for a secure online loan application form.

 

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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