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 

Stronger than expected economic data caused a decline in Mortgage Backed Securities (MBS) this morning, ahead of the Fed Announcements (which are due later today). Second Quarter GDP increased 1.7% (above the consensus prediction of 1.1%). The ADP estimate for July employment showed an increase o...
07/31/2013
Mixed news this morning creates speculation over the direction interest rates will trend today. On a "good news for rates" perspective, Consumer Confidence has come in slightly lower than anticipated.  On a "bad news for rates" perspective however, the Case Shiller Index numbers came in favorably...
07/30/2013
The market has opened today with slight volatility due to the fact that Existing Hme Sales came in slightly more favorable than expected. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given t...
07/29/2013
Strong day for mortgage rates yesterday as the market closed up 25 basis points. We begin Friday with a slight positive uptick...with hopes of continuing in this direction! This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regar...
07/25/2013
Durable Orders were stronger than expected this morning, while Jobless Claims came in very close to the consensus. Mortgage Backed Securities (MBS) opened low and moved lower after the news, but have since returned close to opening levels? There will be a 7 year treasury auction later this mornin...
07/25/2013
Stronger than expected manufacturing data in Europe has hurt global bonds, including Mortgage Backed Securities (MBS) this morning.  Favorable New Home Sales data pushed MBS even lower.  As a result, pricing opened +/- 0.375 worse today. There will be a 5 Year Treasury Auction later this morning....
07/24/2013
Mortgage rates bounced around a bit yesterday, ending with a slight improvement of 8 basis points (bps). Thus far today, we have opened down 22 bps, but have managed to improve in early trading. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals w...
07/23/2013
Weaker than expected Existing Home Sales data has helped Mortgage Backed Securities (MBS) this morning.  No further economic data will be released today. Mortgage pricing has slightly improved as a result. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Pro...
07/22/2013
We closed yesterday down 25 basis points (bps). For those of you unclear what this means, essentially any particular interest rate that was available at 0 points when the market opened yesterday would likely be available at a cost of 0.25 point yesterday afternoon.  For example, on a $400,000 loa...
07/19/2013
We had a slighlty favorable jobs report this morning which has begun to hurt mortgage pricing. At present, we are down 15 basis points after closing down 12 basis points yesterday. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual da...
07/18/2013
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Jason E. Gordon

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