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

2014 

This morning (after a down day on Friday), the Empire State Regional Manufacturing Index came in below expectations. There was little reaction to the data. The DOW is up 10 points. There is no more economic data to be released today. Pricing has opened 0.125 - 0.250 WORSE to the points/credits as...
02/18/2014
How to calculate an FHA mortgage payment has evolved again, now that the most recent Monthly Mortgage Insurance changes have been implemented via HUD Mortgagee Letter 2013-04 (13-04) How to calculate an FHA mortgage payment   Step 1: Determine the loan amount Purchase Price x .965 = Base Loan Amo...
02/15/2014
This morning, January Industrial Production declined 0.3% from December, below the consensus for an INCREASE of 0.3%. Bad weather was again cited as a significant influence on the results. Import Prices & Consumer Sentiment came in close to expectations. There was little immediate reaction to th...
02/14/2014
Tuesday was an extremely turbulent day for mortgage rates, which ultimately finished with inferior pricing. No major economic news is expected today. Pricing has opened 0.125 - 0.250 WORSE to the points/credits associated with each interest rate option. This daily mortgage interest rate report i...
02/12/2014
No major economic news is expected today, although we begin the week with a slight improvement. Pricing has opened 0.125 BETTER to the points/credits associated with each interest rate option. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals wit...
02/10/2014
The Employment report again fell short of expectations, and MBS prices jumped to a high shortly after its release. The reaction was limited by questions about the impact of bad weather, however, and MBS prices quickly gave up roughly half of the early gains. Against a consensus forecast of 185K,...
02/07/2014
After declines yesterday, it has been a quiet morning ahead of tomorrow's Employment report. Weekly Jobless Claims dropped to 331K, which was very close to expectations. Fourth quarter Productivity rose to 3.2%, above the consensus of 2.5%. The December Trade Deficit was larger than expected. The...
02/06/2014
We are currently riding a nice trend for mortgage rates, but history has taught us not to take these trends for granted. A big miss on the ISM Manufacturing Data has lifted Mortgage Backed Securities this morning.  Construction Spending came in at expectations. No further economic data will be re...
02/03/2014
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Jason E. Gordon

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