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 

Comments made by Ben Bernanke this morning emphasized that highly accomomodative monetary policy will remain appropriate for a long time. He also repeated that the Fed's expected timeline to taper its bond purchase program depends on the future performance of the economy. Bernanke's comments and ...
07/17/2013
Today's economic data (CPI, Core CPI, and Industrial Production) came in very close to expectations and had little impact on Mortgage Backed Security (MBS) pricing. Pricing opened today improved on average 0.125 - 0.250 (to points/credits) over yesterday's close. This daily mortgage interest rate...
07/16/2013
Bad numbers for Retail Sales have equated to a nice rally for mortgage rates thus far this morning. We are currently +22 bps for the day. 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...
07/15/2013
Shifting sentiment about the Fed policy have continued to be a driving force for Mortgage Backed Security markets this morning.  We are currently down (worse) 31 basis points on the day. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with fact...
07/12/2013
Yet another volatile day yesterday (stop me if you've heard this before). In both anticipation of, and reaction to the Fed Meeting (FOMC), we lost upwards of 70 basis points before sharply making up ground near the final bell. The end result was a 31 basis point worsening to pricing. Thus far tod...
07/11/2013
In anticipation of today's Fed Meeting, we are currently down 37 basis points. 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...
07/10/2013
All the information about Mortgage Rates you will need all wrapped up into one convenient daily report. On the heals of Friday's debacle, we had a nice bounce back day yesterday with a 50 basis point improvement. We begin Tuesday in positive territory, but remain cautious on locking short term. P...
07/09/2013
While most of the market was enjoying a 4 day weekend, we "quietly" had quite the devastating day for rates on Friday. Immediately after the promising numbers of the jobs report were unveiled, we opened 127 basis points worse than Wednesday's closing. As the short market day progressed, we lost a...
07/08/2013
In fear of cursing it, I am hesitant to acknowledge a recent turnaround in the interest rate trends. Friday finished with a strong 31 basis point improvement, and thus far, we are up an additional 28 bps.  We still have a long way to go in order to erase the losses of last month (but this is a go...
07/01/2013
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Jason E. Gordon

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