Mortgage Rate Update 2-10-12: 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 2-10-2012 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 a WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Thursday's WORSENING resulted in a change of 9 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 103.656

Opened Down 0.18 @ 103.469

Key Economic Data:

EUR / USD 1.3182 Down 0.0104
USD / JPY 77.6900 Up 0.0300
GBP / USD 1.5768 Down 0.0050

Oil 97.60 Down 2.24

Gold 1,713.30 Down 27.90

Key Economic News:

International Trade, month-on-month

Actual: -48.80b, Consensus: -48.00b, Last: -47.80b.

6:55est University of Michigan sentiment for Feb

Consensus: 74.5, Last: 75.0.

11:00est US Federal budget for Jan

Consensus: -50.00b, Last: -85.97b

Advice:

With concerns over Greece’s new agreement, and a stronger dollar we might see an improvement in the market. Keep a close eye on the University of Michigan numbers this could upset everything.

My position on MBS changes to neutral.

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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