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!
Volatile day thus far for Mortgage Backed Securities.  Despite a rough opening, we have had a mid-day pricing improvement given the declines in stocks!Compared to Tuesday's closing, the market has opened with a 0.125 worsening to the Points/Credits associated with any given interest rate option (...
It has been another volatile morning. Bonds have rallied while stocks are declining. The ADP estimate for private sector job growth in January was 205K, above the consensus of 190K.  Additionally, ISM Services came in below expectations.Compared to Monday's closing, the market has opened with a 0...
Quiet morning thus far for Mortgage Backed Security pricing...the Dow is up roughly 240 points.  Report on Consumer Confidence came in higher than expected. Fed Meeting tomorrow.Compared to Monday's closing, the market has opened with a 0.000 change to the Points/Credits associated with any given...
Mortgage Backed Securities declined this morning following a rally in stocks and stronger than expected housing data.  Existing Home Sales came in above expectations.Compared to Thursday's closing, the market has opened with a 0.250 WORSENING to the Points/Credits associated with any given intere...
China released its 4th Quarter GDP this morning, which was 6.8% (below expectations). For the year, it was 6.9% (the slowest pace in 25 years). The Stock Market has reacted favorably thus far as Investor expectations for additional stimul from the Chinese government have grown. NAHB Housing came ...
The JOLTS report showed 5.43M job openings, an increase from last month. No further economic data will be released today.Compared to Thursday's closing, the market has opened with a 0.125 IMPROVEMENT to the Points/Credits associated with any given interest rate option.This daily mortgage interest...
What interest rate changes can we expect in 2016? The market opened with an improvement due to concerns about the pace of economic grown in China and rising tensions in the Middle East.  Weaker than expected manufacturing data in China caused a selloff in Chinese equities which was followed by de...
On the heals of a very disappointing run in mortgage rates last week, we begin this week on the right path. Read below on what to expect as the week progresses.Compared to Friday's closing, the market has opened with a 0.125 IMPROVEMENT to the Points/Credits associated with any given interest rat...
 TRID Talking Points A few years ago, the Real Estate Community was blind-sighted by the implementation of the Mortgage Disclosure Information Act (MDIA).  Amidst the chaos of the Housing Crisis, the MDIA was yet another unwelcomed change that wreaked havoc on countless escrows.  The main causes ...
This painful week continues to trend in the wrong direction for mortgage rates! Fueled by a stronger than expected Employment Report, yet another large decline in Mortgage Backed Securities has occurred. Against a forecast of 190K new jobs, the economy is reported to have added 271K jobs in Octob...

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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