Mortgage Rate Update 5-27-14: Trends & Projections

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

This morning, April Durable Orders showed an increase of 0.8% from March, well above the consensus for a decline of 0.7%. Excluding the volatile transportation component, the results were much weaker however. Factoring in upward revisions to the March data, the report was roughly neutral overall. The March Case-Schiller 20-City home price index showed an increase of 0.9% from February, and it was 12% higher than one year ago.  The elections in Ukraine had little impact on global markets. The results from the 2-Year Treasury auction will come out around 1pm EST today.

Pricing has opened 0.125 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 Tuesday 5-27-2014 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 WORSENING to pricing. Friday's WORSENING netted a change of 6 basis points (bps).

The market was closed yesterday (Monday) in observance of Memorial Day.

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

San Diego Mortgage Rates - Gordon Mortgage Group

The following chart summarizes todays market activity:

San Diego Mortgage Rates - Gordon Mortgage Group

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

 San Diego Mortgage Rates - Gordon Mortgage Group

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

San Diego Mortgage Rates - Gordon Mortgage Group

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 - Gordon Mortgage Group

Market Commentary (Neil Trenerry)

Cpn 3.0 Chg 0.0000 Bid 98.34375
Cpn 3.5 Chg 0.0156 Bid 102.51563
Cpn 4.0 Chg 0.0000 Bid 105.56250

UST 5 YR Chg -0.0625 Bid 100.39063 Yield 1.5420
UST 10 YR Chg 0.0000 Bid 99.68750 Yield 2.5360
UST 30 YR Chg 0.2500 Bid 99.81250 Yield 3.3850

Euro Bid 1.3637 Chg -0.0008
Pound Bid 1.6815 Chg -0.0025
Yen Bid 101.920 Chg 0.000
Light Crude
Last 104.36

Key Economic Data:
Build Permits for Apr: Actual 1.059m, Last 1.080m.
Durable Goods for Apr
Index: Actual 0.8%, Consensus -0.5%, Last 2.5%, Revised 3.6%.
Ex-Transport: Actual 0.1%, Consensus 0.0%, Last 2.1%, Revised 2.9%.
Ex-Defense: Actual -0.8%, Last 1.9%, Revised 2.9%.
Monthly Home price for Mar
MM: Actual 0.7%, Last 0.6%.
YY: Actual 6.5%, Last 6.9%.
CaseShiller for Mar
20 MM SA: Actual 1.2%, Consensus 0.7%, Last 0.8%.
20 MM NSA: Actual 0.9%, Consensus 0.2%, Last 0.0%.
20 YY: Actual 12.4%, Consensus 11.8%, Last 12.9%.
6:45: Markit Svcs PMI Final for May: Last 55.0.
7:00: Consumer Confidence for May: Consensus 83.0, Last 82.3.
7:00: Richmond Fed Comp Index for May: Last 7.
7:30: Dallas Fed Mfg Bus Index for May: Last 11.70.

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

Long = I anticipate pricing to improve which leads to lower Rates.
Neutral = Market should stay close to open plus or minimums 25bps.
Short = I anticipate pricing to weaken which leads to higher Rates.

Short term = 1 - 2 days out
Long term = 30+ days out 

Market Commentary (Dan Rawitch)

FHFA Housing, Consumer Confidence, Case Shiller and Durable Orders all beat estimates. All of this good economic news has the DOW up around 70 points and is putting pressure on Bonds. Mortgage Backs are putting up a noble fight but I would not expect any thing good to happen today. We are being squeezed into the point of resistance and the trendline at the same time. I'm guessing the squeeze takes us below the trendline. I'm still expecting sideways movement between where we are now and 105.20. 

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 interest 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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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Jason ... Your post is "Packed" full of some great information, and is featured to the group:



May 27, 2014 03:15 AM #1
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE

Thanks VB, much appreciated!  I'll keep the information coming...

May 27, 2014 03:33 AM #2
Randy Shamburger
Movement Mortgage - Greenville, SC
FHA, VA, USDA and Conventional Mortgage Expert

Great market update, thanks for sharing.

Have a Big day,


May 27, 2014 04:48 AM #3
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE

Thanks Randy!

May 27, 2014 11:42 AM #4
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Jason E. Gordon

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