Mortgage Street Smarts

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Mortgage and Lending - CMG Mortgage, 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!
Mortgage Backed Securities are starting off the month on the defensive as the long holiday weekend provided little in the way of geopolitical headlines. The ISM Index & Construction Spending both came in above expectations. Compared to Friday's closing, the market has opened with a 0.250% WORSENI...
July Industrial Production increased 0.4% from June, which was close to expectations. Capacity Utilization rose to the highest level since June 2006. July PPI increased 0.1% from June, matching the consensus, and it was 1.7% higher than one year ago.  Core PPI, which excludesfood & energy, increa...
Weak economic data in Europe has lifted Mortgage Backed Securites this morning. German GDP growth was lower than expected. In the US, weekly Jobless Claims rose to 311K, above the consensus of 300K. July Import Prices declined 0.2% from June, matching the consensus. The Dow is up 20 points. No mo...
Weaker than expected economic data has lifted Mortgage Backed Securities this morning.  July Retail Sales were flat from June, below the consensus for an increase of 0.2%.  Retail Sales ex-autos also fell short of expectations.   Compared to yesterday's closing, the market has opened with a 0.125...
Geopolitical events continue to drive Mortgage Backed Securities (MBS) today. US airstrikes in Iraq caused MBS prices to rise. Reports that Russia may be willing to negotiate with Ukraine caused a brief decline in MBS, but Investors were skeptical about the offer (causing MBSA to quickly turn upw...
San Diego Homebuyer Down Payment Assistance Grant loan programs are available for select candidates. Although eligibility and qualification guidelines are constantly subject to change, below is a reflection of what the program is, along with an idea of who will qualify. The benefits for these San...
Following an extremely volatile week, it has been a quiet morning. The Dow is down 40 points. No economic data will be released today. Investors will be mostly watching events outside the US this week, including conflicts in Ukraine and the Middle East, banking troubles in Portugal, and a debt de...
On the heals of a rough day in the market, we have continued this disturbing rate trend today. Mixed economic data has caused a volatile morning. Two early economic reports were negative for Mortgage Backed Securities (MBS). The Employment Cost Index which measures the cost of labor, increased du...
We are amidst a volatile morning thus far today.  Jobless claims came in below expectations (their lowest level since February, 2006).  Mortgage Backed Securities declined immediately upon discovery of this news. New Home Sales also came in below expectations.   The market has opened roughly 0.12...
Amidst banking problems in Portugal and violence in Israel, investors are again favoring safer assets this morning.   The market has opened roughly 0.125 BETTER for the Points/Credits associated with any given interest rate option. This daily mortgage interest rate report is designed to provide B...

Jason E. Gordon

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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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