The conflict in Syria is among the influencers of the most recent market volatility. Rough opening today, but we are currently bouncing back.
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 www.JasonGordon.info 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!
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Thursday 8-29-2013 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 Wednesday with a WORSENING to pricing. Wednesday's WORSENING netted a change of 6 basis points (bps).
(hint: upward activity is good, downward activity is bad)
The following chart shows the activity thus far for today:
The following chart shows market activity over the past 10 days (hint: green is good, red is bad):
The following chart shows market activity over the past 1 month:
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.
Market Commentary (Neil Trennery)
3.0 Coupon: Open 95.6406 Change -0.5156
3.5 Coupon: Open 99.8281 Change -0.3750
4.0 Coupon: Open 103.2188 Change -0.2969
5 Year: Open 99.1094 Change -0.2109 Yield 1.5650
10 Year: Open 97.7188 Change -0.4531 Yield 2.7620
30 Year: Open 97.9063 Change -0.8594 Yield 3.7400
Key Economic Data
EUR/USD: Open 1.3637 Change -0.0029
GBP/USD: Open 1.5524 Change -0.0023
USD/JPY: Open 97.530 Change 0.490
Oil: Open 110.27
Key Economic Data:
Index: Actual 439.2, Last 450.4.
Purchase: Actual 189.4, 184.9.
Refinance: Actual 1871.8, Last 1979.6.
30-yr Rate: Actual 4.80%, Last 4.68%.
7:00: Pending home sales: Last 110.9.
Treasuries fell, with five-year notes halting a three-day advance, before the U.S. sells $35 billion of the securities today in the second of three auctions of coupon-bearing debt this week. Treasuries have gained this week as speculation that the U.S. and its allies will take military action against Syria boosted demand for the safest assets. Treasuries have rallied on safe-haven flows but appear to taking a pause for breath ahead of supply, said Nick Stamenkovic, a strategist at RIA Capital Markets Ltd. In Edinburgh. Tapering fears are also at the forefront of investors minds. Hence further gains in Treasuries may be limited near-term.
My position on MBS changes to Neutral.
Market Commentary (Dan Rawitch)
Tough opening... As expected, a lot of resistance at the 100.25 level. No news, this is just technical and perhaps some positioning ahead of GDP tomorrow.
I suspect with the Syrian conflict rising...we should see more pressure on the DOW and some flight to safety, leading people to bonds. Lets hope we can hold 99.75 throughout the day and then tomorrow if GDP in weak, we should take another run at 100.25.
Trusted Industry Advisor
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 www.jasongordon.net or www.ApprovingSD.com or more information.
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