Mortgage Rate Update 9-14-12: Trends Projections & Todays Lowest Rates
By Jason E. Gordon, Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
(CMG Mortgage, San Diego, CA)
Wow, truly an historic day for mortgage rates yesterday! In light of the messages conveyed at the Fed Meeting, mortgage rates sharply spiked and subsequently dipped repeatedly all morning, sending mortgage professionals and borrowers into panic mode. Those who waited out the turbulence until the afternoon were hugely rewarded, as mortgage pricing ended the day with a net improvement of 106 BASIS POINTS! Short-term profit takers have already begun today as predicted, forcing a "correction" of 42 basis points for the day thus far in early morning trading. This daily mortgage interest rate report is provided to equip Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Fe...
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