What are California's best mortgage rates? What can we expect from mortgage rates in the new year? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why).
The Mortgage Street Smarts of where mortgage interest rates are going (and why):
The following information is current as of Tuesday 1-17-2012 and will help you understand todays 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 NEUTRAL RESULT to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's NEUTRAL resulted in a change of 0 basis points (bps).
The following chart shows the market activity for today (hint: upward activity is good, downward activity is bad):
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
Market Analyst: Neil Trenerry
FNMA 30-Yr 3.5%
Previous close 103.219
Opened flat 103.219
Key Economic Data:
EUR / USD 1.2736 Up 0.0069
USD / JPY 76.8120 Up 0.0295
GBP / USD 1.5344 Up 0.0019
Oil 100.22 Up 1.52
Gold 1,658.00 Up 27.20
Key Economic News:
NY Empire State Manufacturing Index:
Manufacturing in the New York region expanded in January at the fastest pace in nine months, reflecting improving orders, sales and employment. The Federal Reserve Bank of New York’s general economic index rose to 13.5, the highest level since April, from a revised 8.2 in December. That gauge exceeded the median forecast of 56 economists surveyed by Bloomberg News, which projected an increase to 11. Readings higher than zero signal expansion among companies in the so-called Empire State Index, which covers New York, northern New Jersey and southern Connecticut.
Index: 13.50, Consensus: 10.50, Last: 8.2
Advice:
With Europe still having problems with S&P downgrading some major European countries. I believe this will overshadow the improvement in the Empire State index, and the market will hold and possible improve.
My position on MBS stays long.
Trusted Industry Advisor
The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon. 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.jasonegordon.com or www.ApprovingSD.com or more information.
Click here for daily mortgage interest rate updates and projections for San Diego's best mortgage rates
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