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 Chicago PMI came in lower than expected this morning, while Consumer Confidence came in higher than consensus. Mortgage Backed Securities are down slightly on the day, near yesterday's closing levels.  This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Pr...
12/31/2013
Weaker than expected Pending Home Sales data has helped Mortgage Backed Securities to slightly rally this morning. The result has been a "market opening" of roughly 0.125 - 0.250 better to the points/credits associated with any given interest rate. This daily mortgage interest rate report is desi...
12/30/2013
While none of us have a crystal ball that assures us of future numbers, we often rely on consensus projections compiled by Market Analysts to determine when to take action. When it comes to buying a home, there are two major numbers to consider: The Purchase Price of the home The Interest Rate o...
12/27/2013
Mortgage pricing has slightly improved in early trading this morning.  On average, the points/credits associated with each particular interest rate are 0.125 - 0.250 better thus far. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual ...
12/27/2013
Some of the post-Christmas reports have trickled in today.  Weekly Jobless Claims dropped to 338K (slightly short of the consensus prediction of 340K).  THe Dow is up 55 points today, with opening pricing roughly 0.125 - 0.250 worse than Tuesday's close. This daily mortgage interest rate report i...
12/26/2013
It has been a fairly quiet morning thus far in relation to market movement. November Core PCE inflation matched the consensus with an increase of 0.1% from October (only 1.1% higher than 1 year ago). Personal income came in weaker than expected. Consumer sentiment also came in slightly below expe...
12/23/2013
The volatile rate atmosphere has continued this morning. Third quarter GDP was revised higher to 4.1% from 3.6%, far above the consensus. Mortgage Backed Securities dropped after the stronger than expected data, but then turned higher. The Dow is up 70 points. No more economic data will be releas...
12/20/2013
We had an extremely volatile day in trading yesterday, which was spurned by the Fed's decision to taper its bond purchases. The net result was a worsening of 38 basis points (bps). We opened this morning with continued losses of 50 additional bps. At present, we are slowly recovering with a 28 bp...
12/19/2013
Mortgage pricing continues to move in the right direction as the market improves an additional 25 basis points yesterday. 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 tre...
12/17/2013
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Jason E. Gordon

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