San Diego Mortgage Group

It is the first Friday of the month and that brings us the official government report on the labor market: The Employment Situation Report, the most highly anticipated montly dataset available to the market. This release provides four headline measures on the health of the jobs sector. Nonfarm Payrolls: totals the number of jobs that [...]

What a boring day in the markets! Stocks added to yesterday’s gains and bonds added to their losses. This pushed mortgage rates marginally higher. The best 30 year fixed mortgage rates are still in the 4.125% to 4.375% range for well-qualified consumers, but less lenders are offering rates below 4.25% today. If your lender is [...]

Mortgage rates had a great day yesterday. This is the message we communicated to readers… ATTENTION: Mortgage Rates Hit New Lows If you’ve been floating your loan or have yet to apply for a refinance because it just didn’t seem worth the hassle, congratulations, mortgage rates hit new lows today, it’s now worth the hassle! [...]

If you’ve been floating your loan or have yet to apply for a refinance because it just didn’t seem worth the hassle, congratulations, mortgage rates hit new lows today. If you’ve refinanced in the last 20 months, there is a darn good chance your refinance option is back in the money, again! The best 30 [...]

Last week ended on a very sour note for mortgage rates… After a better than expected read on 2nd quarter GDP and a not so scary speech from the Federal Reserve Chairman, the 10 year Treasury note yield rose 16.6 basis points and mortgage-backed securities prices fell significantly. This forced lenders to reprice for the [...]

Poor reads on housing and manufacturing helped mortgage rates move back to historic lows yesterday. However as the day progressed mortgage-backed securities prices fell from their highs and some lenders were forced to reprice for the worse. Rate sheet recalls were not broad based though. We had only one economic report this morning: Weekly Jobless [...]

Much like yesterday, mortgage rates rallied early this morning following weak housing data. Much like yesterday, mortgage rates came under pressure in the lunch hours today as mortgage-backed securities prices fell from intraday highs. Much UNLIKE yesterday, mortgage rates never recovered from that weakness heading into the market close today. The bad news isn't all [...]

Mortgage rates began the week on a bad note but reversed course today following a weak read on the housing sector. The National Association of Realtors this morning released Existing Home Sales data for July. This data totals the number of previously owned homes in which a sale closed during the prior month. Since the [...]

From 10,000 feet the story of the week was " Mortgage Rates Rebound from Losing Streak ", but when you look closer, I think the bigger story was " Mortgage Rates React to Economic Data. Twice! ". Once for the worse, once for the better. Yesterday was the better and it was the reason why [...]

Mortgage rates extended their losing streak to three (3) days yesterday. The losses were brought on by a rally in the stock market. Mortgage-backed securities price moved steadily lower throughout the day before closing at their session lows. Most lenders ended up repricing for the worse as a result. Two economic data releases moved mortgage [...]