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
This morning, Weekly Jobless Claims fell to 264K, which was below the consensus of 270K.  The DOW is currently down about 50 points..Compared to Wednesday's closing, the market has opened with a 0.125 - 0.250  IMPROVEMENT to the Points/Credits associated with any given interest rate option.This d...
06/09/2016
After gains on Friday, Mortgage Backed Securities have moved a little lower this morning. No economic data will be released today. Federal Chair Yellen will be speaking later this morning.Compared to Wednesday's closing, the market has opened with a 0.125  worsening to the Points/Credits associat...
06/06/2016
Mortgage Backed Securities are up thus far today after declines yesterday.  The European Central Bank (ECB) made no change in policy, as expected. The ECB expects to leave accommodative monetary policy in place for quite a while.  In the USA, the ADP estimate for private sector job gains in May w...
06/02/2016
April Core PCE price index rose 0.2% from March, matching the consensus. It was 1.6% higher than 1 year ago, still well below the Fed's target level of 2.0%. April Personal Income rose 0.4%, matching expectations. The Chicago PMI regional manufacturing index & Consumer Confidence were both lower ...
05/31/2016
 The ECB made no changes in rates or its other stimulus programs, disappointing some investors who had hoped for more stimulus. ECB President Draghi said that the ECB is ready to add stimulus as needed to ensure that the inflation rate rises to the target level.Compared to Friday's closing, the m...
04/21/2016
 Weaker than expected Existing Home Sales data has moved Mortgage Backed Securities lower this morning.Compared to Friday's closing, the market has opened with a 0.125 - 0.250 worsening to the Points/Credits associated with any given interest rate option.This daily mortgage interest rate report i...
03/21/2016
 Despite no significant economic data to report, the market opened nicely today for mortgage rates.Compared to Friday's closing, the market has opened with a 0.125 - 0.250 improvement to the Points/Credits associated with any given interest rate option (but we are trending in the wrong direction ...
03/14/2016
 Nice start today! Weaker than expected export data in China continues to raise concerns about the pace of the global economic growth. Compared to Monday's closing, the market has opened with a 0.250 improvement to the Points/Credits associated with any given interest rate option (but we are tren...
03/08/2016
Ouch! Friday morning is having an unpleasant start for mortgage pricing given the data on today's Employment Report. Against a consensus forecast of 190K, the economy added 242K jobs. Remember, good news for the economy = bad news for mortgage rates!Compared to Thursday's closing, the market has ...
03/04/2016
Despite an early rally in stocks, it has been a relatively quiet morning thus far for Mortgage Backed Securities. No economic data will be released today, so all signs point to a relatively flat afternoon.Compared to Tuesday's closing, the market has opened with a 0.125 worsening to the Points/Cr...
02/22/2016
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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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