Mortgage Street Smarts

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Mortgage and Lending - AmeriFirst Financial Inc, San Diego, CA - NMLS 259027
From a young age, we learn the difference between BOOK SMARTS (knowledge learned in the school classrooms) and STREET SMARTS (what we learn in the "Real World"...often the hard way). There are no shortage of websites providing the BOOK SMARTS of the Mortgage Industry, but there are very few resources a Consumer has to learn about the STREET SMARTS of the Mortgage Industry. Please feel free to SUBSCRIBE (for free) to this ongoing source of truthful knowledge (without the worry of a "sales spin" buried somewhere in the message). After all, we tend to make better decisions when armed with the facts...the purpose of this blog is to provide FACTS by teaching you the MORTGAGE STREET SMARTS necessary to run your business (if you are a Real Estate Professional) or to make the best decisions for your family (if you are a Consumer). Enjoy!



The stock market has reopened after a brief hiatus due to Hurricane Sandy. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on ...
What are your thoughts? A question of legality versus morality is amongst us.  In the current real estate environment, per diem charges of approximately $100 are being assessed for each day an escrow is closed beyond the contracted date. With the Federal Reserve closed due to Hurricane Sandy, loa...
The stock market will be closed again today in the wake of Hurricane Sandy (and it's proximity to the actual trading floor). Tentative plans are to re-open trading permitting.  In the meantime, mortgage rates remain constant...and remarkably attractive! This daily mortgage inte...
With Hurricane Sandy wreaking havoc on the East Coast, expect a fairly uneventful day of trading. Thus far today, the market has opened up "flat" amidst reports that SIFMA recommends the market officially close at 12pm (EST) due to safety concerns. This daily mortgage interest rate report is desi...
Another turbulent day in the works for mortgage rates.  After a few extreme dips and spikes, we are currently about 3 basis points ahead of yesterday's market close (with the hopes of breaking a trend of negative movement over the past few days). This daily mortgage interest rate report is design...
As the market opens, we find ourselves in danger of a 3rd day of worsening rates in a row (despite many predictions of future reductions in mortgage rates moving forward). Should you wait and see, or take the "bird in the hand" approach to your finances? This daily mortgage interest rate report i...
Tough morning for stocks thus far as disappointing figures came out for a few large companies. Furthermore, Federal Reserve Chairman Ben Bernanke has hinted that he might not continue on in his position for another term. We have seen a couple of sharp turns early in rates. Stay tuned for what mig...
After a pretty tough mid-week spike, rates improved on Friday with a 15 basis point improvement.  Thus far this morning, we are off to a strong 12 basis point improvement to begin the week. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with f...
We've had back-to-back days of significant detrimental movement for mortgage rates (Wednesday at 45 bps, Thursday at 24 bps). Thus far today, we are seeing a slight trend towards an opportunity to recoup these losses. Rates are still great, but let's all remember how quickly the tide can turn! Th...
Wednesday was a miserable day for mortgage rates with pricing trending further and further into negative territory throughout the day. The net result was a whopping 45 basis point worsening to pricing. Although interest rates remain fantastic overall, days like yesterday are a painful reminder of...

Jason E. Gordon

Sr. Loan Officer, CMPS, CDLP, CDRE, RCS-D, CDPE
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