Mortgage Rate Update 1-15-14: Trends & Projections

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

Stronger than expected economic data has caused Mortgage Backed Securities to move lower this morning. The Empire State manufacturing index surged to 12.5 (well above the consensus prediction of 4.0)...its highest level since May, 2012. December PPI inflation rose 0.4% from November, matching the consensus, and it was 1.2% higher than one year ago. Core PPI, which excludes food & energy, increased 0.3%, far above the consensus prediction of 0.1%. The net result of this news is a market opening of roughly .125 - .250 WORSE to the 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 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 1-15-2014 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 Tuesday with a SIGNIFICANT WORSENING to pricing. Tuesday's SIGNIFICANT WORSENING netted a change of 28 basis points (bps).

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

Lowest Mortgage Rates in San Diego -

The following chart summarizes todays market activity:

 Lowest Mortgage Rates in San Diego -

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

 Lowest Mortgage Rates in San Diego -

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

Lowest 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.

 Lowest Mortgage Rates in San Diego -

Market Commentary (Neil Trenerry)

Cpn 3.0 Chg -0.3125 Bid 95.45313
Cpn 3.5 Chg -0.3125 Bid 99.82813
Cpn 4.0 Chg -0.2188 Bid 103.42188
UST 5 YR Chg -0.2344 Bid 99.07031 Yield 1.6950
UST 10 YR Chg -0.3125 Bid 98.67188 Yield 2.9060
UST 30 YR Chg -0.5000 Bid 98.56250 Yield 3.8310
Euro Bid 1.3581 Chg -0.0097
Pound Bid 1.6322 Chg -0.0115
Yen Bid 104.530 Chg 0.350
Light Crude
Last 93.40


Key Economic Data:
Mortgage Market
Index: Actual 386.1, Last 345.1.
Purchase: Actual 191.7, Last 171.9.
Refinance: Actual 1530.3, Last 1375.6.
30-yr Rate: Actual 4.66%, Last 4.72%.
NY Manufacturing for Jan: Actual 12.51, Consensus 3.75, Last 0.98.
PPI for Dec
Index: Actual 0.4%, Consensus 0.4%, Last -0.1%.
Inflation: Actual 1.2%, Consensus 1.1%, Last 0.7%.
Index core MM: Actual 0.3%, Consensus 0.1%, Last 0.1%.
Index core YY: Actual 1.4%, Consensus 1.3%, Last 1.3%.


Treasuries are having their best start to a year since 2010 as investors from Jeffrey Gundlach to Goldman Sachs Group Inc. say the Federal Reserve will keep its benchmark interest rate at almost zero into 2016. U.S. government securities have returned 0.7 percent in 2014 through yesterday, the most for the first two weeks in four years, according to Bank of America Merrill Lynch indexes. Treasuries fell after a report showed a New York manufacturing index increased this month more than forecast. Fed officials
Charles Evans and Dennis Lockhart are scheduled to speak. Investors who late last year anticipated stronger U.S. data were forced to buy Treasuries this year to cover short positions as growth appears to be losing momentum, said Nick Stamenkovic, a fixed-income strategist at broker RIA Capital Markets Ltd. in Edinburgh, referring to bets that an asset price will fall. While we expect the Fed to continue with its tapering program, its unlikely that interest rates will rise any time soon.


My position on MBS
Short term Neutral. (leaning towarrds going Short)
Long term Short.

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


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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