Mortgage Rate Update 1-27-12: Trends, Projections & Today's Lowest Rates

What are San Diego's lowest mortgage rates today? What can we expect from mortgage rates in the 1st quarter of 2012? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES to insure the best financial decisions are being made without the distraction of marketing gimmicks. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why) by subscribing to this daily update.

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Friday 1-27-2012 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 Thursday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's IMPROVEMENT resulted in a change of 15 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

Analyst: Neil Trenerry

FNMA 30-Yr 3.5%

Previous close 103.438

Opened Up 0.18 @ 103.625

Key Economic Data:

EUR / USD 1.3108 Flat
USD / JPY 76.8750 Down 0.5735
GBP / USD 1.5696 Up 0.0006

Oil 99.63 Down 0.07

Gold 1,721.70 Down 8.20

Key Economic News:

Economy Grows 2.8%.

Economy expanded less than forecast in the fourth quarter as consumers reduced savings in order to boost spending and government agencies cut back, validating the Federal Reserve’s decision to keep interest rates low for a longer period. Gross domestic product, the value of all goods and services produced, climbed 2.8% annual following a 1.8% gain in the prior quarter, Commerce Department figures showed today in Washington. Excluding a jump in inventories, growth was 0.8 percent.

Actual: 2.8%, Consensus: 3.0%, Last: 1.8%

Advice:

With Greek debt wrangle that may pull default trigger, and the dollar staying weak should help the market. If market starts to fall, will sell at 103.375 mark.

My position on MBS stays long (Buyer).

Market Analyst: Dan Rawitch

Here is the link to today's video http://ratewatch.com/ratewatchnow.html

GDP was weak..even weaker than reported. Consumer spending not great either. Add to that the belief that Europe does not solve anything this weekend and you have support for this rally. BE CAREFUL thought...the slightest hint of good news in Europe will send this market back to where it started.

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.

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