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!
RECENT BLOG POSTS
Pricing has opened 0.125 - 0.250 WORSE to the points/credits associated with each interest rate option. 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...
06/17/2014
Despite lower than expected PPI inflation data, Mortgage Backed Securities moved lower this morning. One reason is due to a speech last night suggesting that the Bank of England may begin to raise rates sooner than expected. Some investors are contemplating whether the Fed will provide similar gu...
06/13/2014
Although no economic data will be released today, the market has opened in negative territory after Friday's rough closing. Pricing has opened 0.250 WORSE to the points/credits associated with each interest rate option. This daily mortgage interest rate report is designed to provide Borrowers & R...
06/09/2014
It has been a volatile morning thus far.  The data released at 8:30am EST matched expectations and initially had little impact.  April Core PCE inflation rose 0.2% from March and was just 1.4% higher than one year ago.  April Personal Income increased 0.3% from March.  MBS prices then began to d...
05/30/2014
This morning, April Durable Orders showed an increase of 0.8% from March, well above the consensus for a decline of 0.7%. Excluding the volatile transportation component, the results were much weaker however. Factoring in upward revisions to the March data, the report was roughly neutral overall....
05/27/2014
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
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Jason E. Gordon

Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
local_phone(858) 461-7007
smartphone(619) 200-8031
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Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon

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