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 

The impasse in Congress on the budget and debt ceiling talks remains, which has hurt stocks and provided a small boost to Mortgage Backed Securities. Pricing is on average 0.125 - 0.250 better today (in terms of points/credits). This daily mortgage interest rate report is designed to provide Borr...
09/30/2013
A lack of progress in the debt ceiling talks have hurt stocks and helped Mortgage Backed Securities (MBS) again this morning. Pricing opened with an average improvement of 0.125 - 0.250 to points/credits (not rates). This daily mortgage interest rate report is designed to provide Borrowers & Real...
09/27/2013
Positive movement after today's Treasury auction caused a mid-day pricing improvement (improving pricing by roughly 0.125 - 0.250 to points/credits). This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at...
09/25/2013
Consumer Confidence came in near expectations today. Pricing is on average 0.125 - 0.250 better (in points/credits) than yesterday's close. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given...
09/24/2013
Wednesday's "banner day" was unfortunately followed by a paltry 28 basis point correction on Thursday. Today has been fairly flat due to the absence of any economic reports. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data rega...
09/20/2013
Banner day for mortgage interest rates yesterday! The Fed Statement yesterday was a creatively worded way of saying "our bad" from previous statements (mainly in June) about the economy. Mortgage pricing improved over 100 basis points in a matter of minutes following the "no tapering" verbiage an...
09/19/2013
Mortgage rates remained in negative territory throughout the day on Tuesday, ending 9 basis points down. 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 propellin...
09/17/2013
After a promising start to the week, mortgage pricing worsened a whopping 53 basis points. Today's Consumer Price Index (CPI) came in slightly lower than expected. There was little reaction to the data ahead of tomorrow's Fed Statement. As such, the Dow is up 40 points...there will be no further ...
09/17/2013
One of the candidates for Federal Chief withdrew unexpectedly over the weekend.  His withdrawal leaves Janet Yellen, the current Fed Vice Chair as the clear favorite to replace Ben Bernanke. She is expected to continue the Fed's loose monetary policy, which caused a rally in both stocks and bonds...
09/16/2013
Unfavorable reports (specifically retail sales & Michigan sentiment) are contributing to improved mortgage pricing thus far today (although minor, it is a step in the right direction). This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factua...
09/13/2013
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Jason E. Gordon

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