Mortgage Rate Update 1-24-14: Trends & Projections

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

Although there has been very little economic news this morning, Investors are heavily gravitating towards safer assets, including Mortgage Backed Securities. The Dow is down 160 points, and mortgage pricing is IMPROVING.

The result of this data is a market opening of 0.250 BETTER 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 Friday 1-24-2014 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 Thursday with an IMPROVEMENT to pricing. Thursday's IMPROVEMENTnetted 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 0.3125 Bid 96.70313
Cpn 3.5 Chg 0.2813 Bid 100.95313
Cpn 4.0 Chg 0.2188 Bid 104.31250
UST 5 YR Chg 0.2578 Bid 99.78125 Yield 1.5460
UST 10 YR Chg 0.3438 Bid 100.09375 Yield 2.7390
UST 30 YR Chg 0.3594 Bid 101.54688 Yield 3.6640
Euro Bid 1.3688 Chg -0.0005
Pound Bid 1.6523 Chg -0.0113
Yen Bid 102.340 Chg -0.900
Light Crude
Last 97.32
Key Economic Data:
7:30 ECRI weekly index: Last 134.5.
Treasuries advanced for a second day, pushing 10-year yields to an eight-week low, as emerging-markets declines spurred demand for haven assets. Benchmark notes were set for a fourth weekly advance, the longest stretch since April. U.S. securities advanced yesterday after a gauge of Chinese manufacturing showed contraction, Argentinas peso plunged the most since 2002 and Turkeys lira fell to a record. The Federal Reserve meets next week, while the Treasury will offer floating-rate two-year securities in an inaugural sale. Its the international flight to quality, said Michael Franzese, senior vice president of fixed-income trading at ED&F Man Capital Markets in New York. Emerging markets benefited from Fed stimulus because of dollars and people looking for yield because of the Fed crowding out investors in the U.S. Now, as the Fed signals its leaving, you have panic setting in. The U.S. 10-year yield fell three basis points, or 0.03 percentage point, to 2.75 percent as of 8:39 a.m. New York time after sliding to 2.70 percent, the lowest since Nov. 26, according to Bloomberg Bond Trader prices. The price of the 2.75 percent note due November 2023 rose 1/4, or $2.50 per $1,000 face amount, to 100.
My position on MBS
Short term Neutral.
Long term Short.

Market Commentary (Dan Rawitch)

Dow is falling like a Rock, dropped from a tall building, thus causing a good Ol Fashion "Flight to Safety". The over night Asian markets were also rocked thanks to a Flash report from HSBC, showing a slow done in China. We've broken out of resistance on the bond side and I would expect a run to the top of the channel, in the 101.40 range. Be careful at that point, because that was the level that triggered the last sell off.

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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Attention Real Estate Agents!

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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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Jimmy Faulkner
Florida. Homes Realty & Mortgage - Wantagh, NY
The Best Of St. Augustine

Forget the glitter and always go with the facts and disern from that point. Knowing what is going on and watching the trends can be a big help to everyone. Be aware.

Jan 24, 2014 05:09 AM #1
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Jason E. Gordon

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