ARCHIVED BLOG POSTS
2018
The Mortgage Bankers Association (MBA) reported last week that it is forecasting $1.24 trillion in purchase mortgage originations in 2019, a 4.2% gain from 2018. In the refinance arena, the MBA predicts a 12.4% decline in 2019 to $395 billion. For 2019, the MBA sees total originations to decrease...
10/22/2018
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Mortgage backed securities (MBS) closed flat today at 99.88 having remained below resistance offered by the 10 day moving average and closed 18 points below it. The conforming rate is at 4.875% day. My jumbo pricing is now. sizzling! The 3.0 year jumbo for $1 million was at 4.6250%. Whether in...
10/22/2018
The National Association of REALTORS® reports that Existing Home Sales declined 3.4% in September from August to an annual rate of 5.15 million units versus the 5.30 million expected. All four major regions of the country saw no gains in September. Sales were also lower by 4.1% from a year ago. I...
10/19/2018
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Mortgage backed securities (MBS) closed down 16 basis points today at 99.88 having remained below resistance offered by the 10 day moving average and closed 20 points below it. The conforming rate is at 4.875% day. My jumbo pricing is now. sizzling! The 3.0 year jumbo for $1 million was at 4.62...
10/19/2018
After rising seven out of the last eight weeks, mortgage rates edged lower this week. Freddie Mac reports that the 30-year fixed-rate mortgage fell five basis points this week to 4.85% with an average 0.50 in points and fees. Freddie Mac said, "The modest decline in mortgage rates is a welcome re...
10/18/2018
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Mortgage backed securities (MBS) closed up 9 basis points today at 100.00 having remained below resistance offered by the 10 day moving average and closed 10 points below it. The conforming rate is at 4.875% day. My jumbo pricing is now. sizzling! The 3.0 year jumbo for $1 million was at 4.6250...
10/18/2018
Construction of new homes declined in September from August, due in part to a drop in new construction in the South after Hurricane Florence hit North and South Carolina during the month. The Census Bureau reports that Housing Starts fell 5.3% in September from August to an annual rate of 1.201 m...
10/17/2018
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Mortgage backed securities (MBS) closed down 24 basis points today at 99.94 having remained below resistance offered by the 10 day moving average and closed 22 points below it. The conforming rate is at 4.875% day. My jumbo pricing is now. sizzling! The 3.0 year jumbo for $1 million was at 4.62...
10/17/2018
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There was a record number of job openings in August as the economy and labor market continue to strengthen. The Labor Department reports that its JOLTS (Job Opening and Labor Turnover Survey) report saw a record high 7,136,000 job openings at the end of August. The August number exceeds the July ...
10/16/2018
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Mortgage backed securities (MBS) closed up 6 basis points today at 100.19 having remained below resistance offered by the 10 day moving average and closed 4 points below it. The conforming rate is at 4.875% day. My jumbo pricing is now. sizzling! The 3.0 year jumbo for $1 million was at 4.6250%...
10/16/2018
