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2019
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Inflation continued to remain tame in June, as evidenced by a key inflation indicator. The Core Personal Consumption Expenditure (PCE), which strips out volatile food and energy, rose 1.6% in June, below the 1.7% expected. The Core PCE is the Fed's favorite inflation gauge and it has set a target...
07/30/2019
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Mortgage backed securities (MBS) closed flat today at 102.31 having closed 211 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...
07/30/2019
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The US capital markets are on hold today in what is shaping up to possibly be a volatile week. The inflation reading and the Fed's favorite inflation gauge, the Core PCE, will be released on Tuesday while the closely watched Jobs Report for July is released on Friday. The two-day Federal Open Mar...
07/29/2019
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Mortgage backed securities (MBS) closed flat today at 102.31 having closed 213 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...
07/29/2019
Economic growth edged lower in the second quarter of 2019. The Bureau of Economic Analysis reported that Gross Domestic Product (GDP) in the second quarter of 2019 rose 2.1%, down from 3.1% in Q1. However, a surge in consumer and business spending pushed the Personal Consumption Expenditures inde...
07/26/2019
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Mortgage backed securities (MBS) closed flat today at 102.28 having closed 215 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...
07/26/2019
Despite slowing economies across the globe, here in the states, economic data remains impressive. This morning, June Durable Orders came in better-then-expected rising 2% versus the 1% expected and up from the -1.3% reported in May. Weekly Initial Jobless Claims remain near 50-year lows falling ...
07/25/2019
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Mortgage backed securities (MBS) closed down 16 basis points today at 102.28 having closed 215 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 Englan...
07/25/2019
The US Census Bureau reports that new home sales in June jumped 7% from May to an annual rate of 646,000 units. Sales for new single-family homes in three past three months were revised lower. On an annual basis, sales rose 4.5%. Across the nation, New Home Sales surged in the West, were flat in ...
07/24/2019
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Mortgage backed securities (MBS) closed up 12basis points today at 102.44 having closed 233 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, ...
07/24/2019
