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What can we expect from mortgage rates for the rest of the quarter? 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 3-9-2012 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 12 basis points (bps).

(hint: upward activity is good, downward activity is bad)

The following chart shows the market activity 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

Analyst: Neil Trenerry

FNMA 30-Yr

	Prev Close	Open	Change
3.0 Cpn	100.3906	100.0781	-0.31250
3.5 Cpn	103.1406	103.1250	-0.01563
4.0 Cpn	105.1094	105.0938	-0.0156

Key Economic Data:

	Prev Close	Open	Change
EUR/USD	1.3278	1.3133	-0.0144
GBP/USD	1.5830	1.5727	-0.0103
USD/JPY	81.570	82.26	0.6900

Gold	1683.10	1687.60	-10.50
Oil	106.58	106.48	-0.10

Key Economic News:

Non-Farm payrolls for Feb: Actual 227k, Consensus 210k, Last 243k.

Unemployment Rate for Feb: Actual 8.3%, Consensus 8.3%, Last 8.3%.

Average earnings for Feb: +0.1%, Consensus 0.2%, Last 0.2%.

Average workweek hours for Feb: Actual 34.5h, Consensus 34.5h, Last 34.5h.

International Trade for Jan: Actual -52.57b, Consensus -49.00b, Last -48.80b.

7:00est Wholesale Inventories for Jan: Consensus 0.6%, Last 1.0%.

7:00est Wholesale Sales for Jan: Consensus 0.8%, Last 1.3%.

Advice:

My position on MBS changes to neutral.

Analyst: Dan Rawitch

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

Unemployment numbers were a bit better than expected and this was the 3rd month in a row with Non-Farm payrolls climbing by over 230k jobs. This is nice! Also, Greece looks done.

I expect further bond pressure as the small bits of good news trickle out.

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 lowest mortgage rates

True Direct Lender! Our corporate office is located in Carlsbad. New office in Mission Valley!! In-house Processors, DE Underwriters and Funders. Processing to Funding all Under One Roof! Please call or email me about our loan programs (FNMA, FHA, VA, Jumbo Loans, Conventional up to 95%, Niche Purchase Programs such as 203K and Homepath). True AUS Underwriting Policy. Quick Pre-Approval Process. I am available anytime for you. Don't forget to ask me about our proprietary Marketing System, the OnePlaceCommunity.

About Me

17 years in banking and lending industry. Customer service is always my TOP PRIORITY therefore I am always available for my customers and business partners. My goals are simply to provide the lowest competitive RATES and Efficiently CLOSE YOUR LOANS ON TIME.

True Direct Lender! Our corporate office is located in Carlsbad. New office in Mission Valley!! In-house Processors, DE Underwriters and Funders. Processing to Funding all Under One Roof! Please call or email me about our loan programs (FNMA, FHA, VA, Jumbo Loans, Conventional up to 95%, Niche Purchase Programs such as 203K and Homepath). True AUS Underwriting Policy. Quick Pre-Approval Process. I am available anytime for you. Don't forget to ask me about our proprietary Marketing System, the OnePlaceCommunity.

About Me

17 years in banking and lending industry. Customer service is always my TOP PRIORITY therefore I am always available for my customers and business partners. My goals are simply to provide the lowest competitive RATES and Efficiently CLOSE YOUR LOANS ON TIME.

Credit Report Tip to Share! Did you know the three main credit bureaus, Equifax, Experian®, and TransUnion®, are required by law to provide you with a free copy of your credit report once every 12 months? To request your free copy (one from each company) visitwww.AnnualCreditReport.com or call 1-877-322-8228.

It's always a good idea to take a look at your credit report once a year. If you know anyone who is looking to buy soon, they should take a look at their report as soon as possible, so they can check for any errors or get some tips on how to improve their scores, so they are in a position to score the lowest rates and save as much money as possible when they do move forward to purchase!

To share an incident, I have a client with scores of 797, 802 and 805 however he had a dispute on one of his accounts which was reported 2 years ago. The dispute was completed but was never updated on his credit report and was never aware of it. We had to call the creditor to remove the dispute and waited for all 3 bureaus to update and remove so that we can repull his credit report to show that the dispute was removed. As you all know, if there's a dispute on your credit report, this makes the loan a non-sellable loan. I was able to get it done and at the same time I gave my client some helpful information about disputes and the necessary steps needed.

*The following 5 rules apply to a property that is being resold within 90 days with > 20% profit to the seller!

1. 2nd Appraisal is required if > 20% profit within 90 days (buyer can't pay for it)

2. Home inspection is required on all flips (all repairs called out by appraiser must be fixed by seller prior to funding)

3. Health & Safety repairs (Any noted on inspection report repaired by funding)

4. All transactions must be arms-length (NO identity of interest between parties)

5. A minimum 12-month chain of title required (can't be flipped twice in 12 months)

Manny Alfelor / Mortgage Banker / San Diego / BluFi Lending / (619) 972-3209