Mortgage Rate Update 6-30-14: Trends & Projections

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

After a down day on Friday, Mortgage Backed Securities rallied, then lost their gains after stronger than expected Chicago PMI and Pending Home Sales data.

The market has opened roughly 0.125 WORSE for the Points/Credits associated with any given 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 Monday 6-30-2014 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 12 basis points (bps).

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

Best Mortgage Rates in San Diego -

The following chart summarizes todays market activity:

Best Mortgage Rates in San Diego -

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

 Best Mortgage Rates in San Diego -

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

Best 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.

Best Mortgage Rates in San Diego -

Market Commentary (Neil Trenerry)

FNMA - Month Jul
Cpn 3.0 Chg 0.1094 Bid 98.71875
Cpn 3.5 Chg 0.1250 Bid 102.89063
Cpn 4.0 Chg 0.0938 Bid 106.07813

UST 5 YR Chg 0.0469 Bid 99.98438 Yield 1.6300
UST 10 YR Chg 0.1094 Bid 99.78125 Yield 2.5230
UST 30 YR Chg 0.3438 Bid 100.46875 Yield 3.3500

Euro Bid 1.3656 Chg 0.0008
Pound Bid 1.7051 Chg 0.0018
Yen Bid 101.360 Chg 0.000
Light Crude
Last 105.35

Key Economic Data:
6:45: Chicago PMI for Jun: Consensus 63.0, Last 65.5.
7:00: Pending Home Index for May: Last 97.8.
7:30: Dallas Fed Mfg Bus Index for Jun: Last 8.00.

Treasuries rose in the first half of 2014 to almost erase last years losses as the U.S. economy contracted while conflict in Iraq and Ukraine fueled demand for the safest securities. The Bloomberg U.S. Treasury Bond Index climbed 3.2 percent this year through the end of last week, after declining 3.4 percent in 2013. The Bloomberg Global Developed Sovereign Bond Index rallied 4.9 percent, after falling 4.6 percent last year. Winter storms in the first three months of the year slowed housing, consumption and employment growth. U.S. gross domestic product shrank at an annual rate of 2.9 percent in the first quarter, the worst reading since the same three months in 2009, the Commerce Department said last week. Yields havent risen as many had been looking for at the start of the year, said Craig Collins, managing director of rates trading at Bank of Montreal in London. As we saw with recent gross domestic product revisions, the recovery is not as robust as anticipated. Federal Reserve governors have been very optimistic on their growth forecasts for second half of the year. Were going to need to see that materialize in stronger data before yields can rise substantially. The benchmark 10-year yield was little changed today at 2.52 percent at 7:19 a.m. in New York, according to Bloomberg Bond Trader data. The rate has dropped 50 basis points, or 0.50 percentage point, since Dec. 31. The price of the 2.5 percent note maturing in May 2024 was 99 27/32.

My position on MBS:

Short term stays Neutral.
(leaning towards Long ).
Long term stays Neutral.

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

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) Certified Mortgage Coach (CMC), and Certified Military Housing Specialist (CMHS), 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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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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