Jason E Gordon, CMPS, CDPE, CMC

Tough day yesterday for rates, and a tough start today as well. 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 complimentary daily update.

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

The following information is current as of Tuesday 3-13-2012 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 WORSENING to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's WORSENING resulted in a change of 18 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: Bill Fisher

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

Friday's market improvement allowed a strong finish to yet another volatile week. 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 complimentary daily update.

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

The following information is current as of Monday 3-12-2012 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 Friday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's IMPROVEMENT resulted in a change of 18 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

Key Economic Data:

Key Economic News:

7:00est Employment Trends for Feb: Last 105.8.

11:00est Federal Budget for Feb: Consensus -229.0b, Last -27.4b.

Advice:

With little help on the news front, and mixed results for the Dollar. We will probably see as small improvement in the market as traders open positions close over the weekend. Keep a close eye on the Federal Budget numbers coming out at 10:00est, this my change everything.

My position on MBS changes to neutral.

Analyst: Lou Barnes

Last week brought a lot of new economic information. Raw data is always spun by analysis, sometimes for reasons of advantage in driving clients to buy or sell things,
sometimes to further theories, and often for politics, Lord knows.

But this time is exceptional, cubed. Global economies have never been in situations like these, and thus neither have central bankers, economist/analysts; and reporters cannot tell when sources are spinning, straight, or bent. I vacillate between the anger of a citizen done wrong by political leadership, exasperation with dumbed-down media, and homicidal rage at the amorality of colleagues in markets, utterly dependent on market health but undermining them for the slightest advantage.

Today… compassion, even for those unfortunate branches of humanity.

The biggest news: 227,000 net-jobs created in February, and a 61,000 positive revision to the Dec-Jan sum. That's good news, and crowing by the party in power is justfied. However, all is relative. The good jobs numbers in the last three months are likely to have been boosted by good weather. The February numbers include a negilgible gain in wages, 0.1% equal to three cents per hour, and no acceleration in hours worked. Unemployment remained 8.3%, and inclusive of "involuntary part-time" improved slightly to 14.9% -- both understated by discouraged workers leaving the workforce. You ain't unemployed if you ain't lookin'.

Nothing matters more than jobs, because we must have tax revenue before we embark on austerity, and austerity is coming, ready or not.

The ISM reported sustained growth in the service sector, to 57.3 in February from 56.0 (a 50 level is breakeven, 60 is pink-of-health). Econo-political discourse is now polluted by advocacy for manufacturing jobs. Do I hope my 17-year-old son will stand in a production line, competing head-to-head with Asian sweatshops and superbly conceived German mini-lines? Or a career in what Peter Drucker described 50 years ago as "knowledge work," perhaps at Google, or programming manufacturing robots, or any number of ventures in which his brain might be paid better than his hands?

My friend, who writes Calculatedriskblog says, "…Housing has made its bottom turn." No it has not -- not with prices still falling and distressed inventory unchanged.

Loud hozannahs greeted the Fed's report of an 8.6% surge in consumer credit: banks are easing, consumers in action! No. Just… not. Credit card debt actually contracted at a 4.4% pace, knocking balances back to November levels. Non-revolving credit roared ahead at a 14.7% pace. Partly good: auto loans -- credit is easier (cars are easier to repossess than houses), and the damned things do wear out, and high-mileage new beats the old gas-blazer.

Partly awful: the fastest growth in credit is student loans, now nearly equal to the nation's total outstanding 2nd mortgages and Helocs, loaded onto the backs of kids to pay the higer-ed racketeers. In this whole Great Recession, the only sectors of the economy to raise prices at a multiple of inflation: the health-care Corleones, and higher ed. A shameful and destructive reversal of GI Bill wisdom.

Overseas: officials say the new Greek deal marks the end of European crisis. Uh-huh. New Greek bond yields already predict certain default. Banks propped, the Euro-story is now the actual economies. Spain: unemployment 22% and rising, 45% among youth; budget out of balance 8.3% of GDP. German-forced austerity the plan. For now.

Back here, bizarre bad-good-bad-good news. In a panic, the Administration and silent, bi-partisan co-dependents in Congress have jacked FHA fees to fill a loss hole which will require bailout after the election. The jack is so high, driving new applicants away, that FHA net revenue may fall instead. The good news: nouveau private mortgage insurers can fill most of the credit gap. The bad news: the highest-quality applicants will bolt FHA, leaving it with net-increased risk and losses.

Election year. Nothing to do but watch the data stream by. The best view: unfiltered original sources. Take gin straight in a Martini. Don’t monkey with it.

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

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

Key Economic Data:

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

There is actually some GOOD NEWS worth sharing in regards to the upcoming 2012 FHA Mortgage Insurance Changes.

There is actually a DECREASE to the Annual Mortgage Insurance Premiums on CERTAIN Streamline Refinance transactions!

• For all Streamline Refinances that are refinancing FHA loans endorsed on or before May 31, 2009, the annual MIP will be only 55 basis points, regardless of the base loan amount.
• The Endorsement Date is on the Case Query screen in the FHA Connection website portal
• This change is effective for case numbers assigned on or after June 11, 2012

All other proposed changes (which are not such good news) are provided below.

The Up-Front Mortgage Insurance Premiums (UFMIP) will increase from 1.00% to 1.75% for all case numbers assigned on or after April 9, 2012. Although the UFMIP can be financed into the loan amount (and thus does not represent an out-of-pocket expense), these changes are significant, and worth noting!

Cesar Chavez Day - Many County Recorders Closed on 3/30/12 - Plan Ahead!

For those of you with month-end closings in March, this is just a friendly reminder that many County Recorder's will be closed (and thus no recordings on that day). See below for details, and plan accordingly!