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!

ARCHIVED BLOG POSTS

2013 

Ouch, brutal day yesterday for mortgage rates!  Tuesday completed with a 55 basis point loss, which prompted most Lenders across the country to post mid-day pricing adjustments between 0.375 - 0.500 "worse" across the board.  WEaker than expected industrial data has lifted Mortgage Backed Securit...
05/15/2013
Monday's mortgage rates flirted with improvement throughout the day, only to settle a mild 6 basis points into positive territory. In early trading Tuesday, we find ourselves down 9 basis points. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals ...
05/14/2013
Friday was a brutal day for mortgage rates, which caused most lenders to worsen pricing by 0.500.  An example of how this type of movement effects mortgage pricing is as follows: $400,000 loan amount at 0.500 worsening in pricing = $2000 increased cost (or decreased credit) for any particular rat...
05/13/2013
Mortgage Backed Security prices declined sharply this morning in a continuation of the trend following last Friday's employment data.  No economic data will be released today.  Pricing is on average 0.500 worse than yesterday. This daily mortgage interest rate report is designed to provide Borrow...
05/10/2013
Jobless claims came in lower than expected and hurt Mortgage Backed Security prices this morning. There will be a 30 year Treasury Auction later this morning. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rat...
05/09/2013
No economic data will be released today, although it has been a volatile morning for Mortgage Backed Security movements.  Prices are roughly 0.125 beter than yesterday's closing. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data...
05/08/2013
There were no net gains or losses in yesterday's Mortgage Backed Security movements.  We have begun today with a nice rally, with the hopes of erasing some of last week's losses. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data...
05/07/2013
We begin the week slightly better than where we ended on Friday. Strong jobs reports last week reminded us of how quickly these low rates can spike. If you're in the market for a new loan, now might be a great time to lock! This daily mortgage interest rate report is designed to provide Borrowers...
05/05/2013
If you are an FHA Buyer (or are working with one), please make sure to get your home into escrow no later than May 31, 2013!  By failing to do so, you (or your Buyers) will incur much more significant FHA Monthly Mortgage Insurance (MMI) Premiums. When pursuing an FHA loan, the Lender is required...
05/04/2013
Jobless claims came in below forecasts at a 5 year low.  Mortgage Backed Securities prices opened a little lower after up and down day yesterday.  Pricing is on average roughly 0.125 worse than where the market closed yesterday. This daily mortgage interest rate report is designed to provide Borr...
05/02/2013
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Jason E. Gordon

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