Mortgage Rate Update 10-20-2015: Trends & Projections

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

On an annualized basis, September starts came in at 1.2 million units, while expectations were for 1.15 million units. August starts were revised a little higher as well. Most of the increase in September starts was in multifamily units. Building permits fell a bit short of expectations. Single family permits were essentially unchanged. 

Compared to Monday's closing, the market has opened with a 0.125 WORSENING to the Points/Credits associated with any given interest rate option.

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Professionals 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 10-6-2015 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 Monday with a WORSENING to pricing. Monday's WORSENING netted a change of 3 basis points (bps).

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

Jason Gordon Mortgage - San Diego - AmeriFirst Financial -

The following chart summarizes todays market activity:

Jason Gordon Mortgage - San Diego - AmeriFirst Financial -

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

Jason Gordon Mortgage - San Diego - AmeriFirst Financial -

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

Jason Gordon Mortgage - San Diego - AmeriFirst Financial -

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 scenario involving a 740+ credit score, 25% down payment, owner occupied, single family residence, with impound account, with a loan amount up to $417,000 to accompany this pricing.

It bears noting that this chart does not necessarily represent todays best mortgage rates.

Jason Gordon Mortgage - San Diego - AmeriFirst Financial -

Market Commentary (Neil Trenerry)

Market Update
Cpn 2.5 Chg -0.050 Bid 98.051
Cpn 3.0 Chg -0.045 Bid 101.15+
Cpn 3.5 Chg -0.04+ Bid 104.133
Cpn 4.0 Chg -0.010 Bid 106.221

UST 5 YR Chg -0.070 Bid 99.302 Yield 1.3848
UST 10 YR Chg -0.122 Bid 99.130 Yield 2.0664
UST 30 YR Chg -0.242 Bid 99.040 Yield 2.9185
Bank Rates
Discount 0.75%
Fed Funds 0.25%
Prime 3.25%
Euro Bid 1.13644
Pound Bid 1.54824
Yen Bid 119.761

Key Economic Data:
Housing Starts for Sep: Actual 1206k, Consensus 1142k, Last 1126k.
Building permits for Sep: Consensus 1170k, Last 1170k, Revised 1161k.

Borrowing costs may rise as the Federal Reserve comes closer to deciding whether they will increase interest rates this year for the first time since 2006. While policy makers delayed a hike at their meeting last month, theyll have another opportunity at meetings next week and in December. Central bankers have been weighing data on the labor market as part of their consideration. Payrolls have added an average 198,000 workers each month this year, getting many consumers closer to the ability of purchasing a home. However those gains have started to moderate, with increases in August and September coming in lower than economists projected. Itll take stronger wage growth than the 2 percent average the recovery has posted to help pick up the slack.

My position on MBS:

Short term Stays Neutral.
Long term Stays Neutral.
(Considering going 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)

Bonds ar showing continued signs of weakness and I continue to believe we are working our way to the bottom of the range, which is 101.00 to 101.15. The ECB announced it does not plan on another round of QE for the Euro countries. In reality this news should be viewed as bullish for bonds, but the market is having what I view as the opposite reaction. Also,, today we had housing starts beat expectations, but building permits missed expectations. Probably not a bad time to lock deals that have to close soon.



Trusted Industry Advisor

Jason Gordon Mortgage -

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason 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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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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Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Jason, thanks for the mortgage report and for sharing with us in Ar Land.

Oct 20, 2015 06:31 AM #1
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Jason - This is very good latest trends projections mortgage rates.

Oct 20, 2015 10:12 AM #2
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Jason E. Gordon

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