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!
RECENT BLOG POSTS
Just when you thought the recent spike in mortgage rates would stop, we are continuing to get worse! Today is the worst day for mortgage rates in the last 3 months! MBS began with small losses and quickly moved lower. Ironically enough, weekly Jobless Claims rose to 268K above the consensus of 25...
12/01/2016
This morning, September CPI inflation rose 0.3% from August, matching the consensus, and it was 1.5% higher than a year ago.  Core CPI, which includes food & energy, rose 0.1%, below the consensus for an increase of 0.2%. Core CPI was 2.2% higher than a year ago, down from 2.3% last month. NAHB H...
10/18/2016
Pricing is at its HIGHEST POINT in the last 3 months as of today! The JOLTS report showed 5.44M job openings in August, down from the previous reading. 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....
10/12/2016
This morning, Jobless Claims were just above the consensus, while the Philadelphia Fed Index and Leading Indicators both came in at expectations.  No more economic data will be released today.Compared to Wednesday's closing, the market has opened with a 0.125 IMPROVEMENT to the Points/Credits ass...
08/18/2016
What is the difference between Mortgage Pre-Qualification and Mortgage Pre-Approval (and what is a Mortgage Cross-Approval)?  These terms get tossed around frequently (and are often used improperly) by Real Estate Agents, Buyers & Sellers. The following explanation has been written in an attempt ...
06/13/2016
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
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Jason E. Gordon

Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
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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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