ARCHIVED BLOG POSTS
2019
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Inflation in the US remained subdued in May which should hold mortgage rates at current low levels for the foreseeable future. The Bureau of Economic Analysis reports that the Core Personal Consumption Expenditure (PCE) was unchanged at 1.6% year-over-year last month. The Core PCE is the Fed's fa...
06/28/2019
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Mortgage backed securities (MBS) closed flat today at 102.19 having closed 241 points above support offered by the 200 day moving average. The conforming rate is at 3.875% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.00%. Whether in New England, the Mid Atlan...
06/28/2019
In economic news, the final reading on Q1 2019 Gross Domestic Product remained at a strong 3.1% while Weekly Initial Jobless Claims hover near 50-year lows rising 10,000 in the latest week to 227,000. The job market has been a beacon of strength for several years and will most likely continue to ...
06/28/2019
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Mortgage backed securities (MBS) closed up 10 basis points today at 102.19 having closed 241 points above support offered by the 200 day moving average. The conforming rate is at 3.875% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.00%. Whether in New England,...
06/28/2019
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Mortgage rates continued their decline the latest week as bond prices rose. Yields declined on the dovish Fed statements at last week's Federal Open Market Committee meeting. The Mortgage Bankers Association (MBA) reports that the 30-year fixed-rate mortgage fell eight basis points to 4.08% with ...
06/26/2019
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Mortgage backed securities (MBS) down 16 basis points today at 103.03 having closed 129 points above support offered by the 200 day moving average. The conforming rate is at 4.00% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.00%. Whether in New England, the M...
06/26/2019
Sales of new homes fell by nearly 8% in May from April by to an annual rate of 626,000 units, below the 683,000 expected, reports the Commerce Department. From May 2018 to May 2019, sales declined 3.7%. Inventories are now just above normal rates of 6 months, currently at 6.4 months. The median p...
06/25/2019
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Mortgage backed securities (MBS) down 3 basis points today at 103.25 having closed 1492 points above support offered by the 200 day moving average. The conforming rate is at 4.00% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.00%. Whether in New England, the M...
06/25/2019
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"We will use our tools as appropriate to sustain the expansion. Participants (Fed members) expressed concerns a about a more sustained shortfall of inflation," said Fed Chair Powell at his press conference yesterday. Mr. Powell went on to say that Fed members cited weaker business investment and ...
06/20/2019
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Mortgage backed securities (MBS) down 7 basis points today at 103.34 having closed 162 points above support offered by the 200 day moving average. The conforming rate is at 4.00% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.00%. Whether in New England, the Mi...
06/20/2019
