ARCHIVED BLOG POSTS
2019
It's jobs week with ADP Private Payrolls on Wednesday and the government's Jobs Report on Friday. In addition, the ISM National Manufacturing Index will be released and may give some clues on the current slowdown in the sector. If a trade agreement is reached between the US and China, some of the...
09/30/2019
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Mortgage backed securities (MBS) closed up 12 basis points today at 102.59 having closed 133 points above support offered by the 200 day moving average. The conforming rate is at 3.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England...
09/30/2019
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Inflation, as measured by the Core PCE, rose to 1.8% annually in August from 1.7% in July, which was revised from 1.6%. The Core PCE is the Fed's favorite inflation gauge and has set a target range of 2.0%. It has been running below that level for some time. Month-over-month, Core PCE rose 0.1% v...
09/27/2019
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Mortgage backed securities (MBS) closed up 9 basis points today at 102.47 having closed 123 points above support offered by the 200 day moving average. The conforming rate is at 3.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England,...
09/27/2019
Consumer spending surged in the second quarter of 2019 due in part to a strong labor market here in the US. The government released the final read on second quarter Gross Domestic Product today showing a 4.6% increase in consumer spending, the fastest pace since the fourth quarter of 2014. For t...
09/26/2019
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Mortgage backed securities (MBS) closed up 9 basis points today at 102.38 having closed 122 points above support offered by the 200 day moving average. The conforming rate is at 3.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England,...
09/26/2019
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Low mortgage rates fueled sales of new single-family homes in August signaling a positive sign for the sector after strong Housing Starts and Existing Homes Sales in the past three weeks. August new home sales surged 7% from July to an annual rate of 713,000 versus the 659,000 expected. It was th...
09/25/2019
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Mortgage backed securities (MBS) closed down 19 basis points today at 102.28 having closed 108 points above support offered by the 200 day moving average. The conforming rate is at 3.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New Engla...
09/25/2019
Home price gains continued to slow in July and are way below the annual gains seen a year ago. The July S&P Case-Shiller 20-City Home Price Index rose 2% year-over-year, down from 2.2% in June. It was the slowest pace since 2012. The national index rose 3.2%, matching June's number. On a monthly ...
09/24/2019
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Mortgage backed securities (MBS) closed up 3 basis points today at 102.47 having closed 128 points above support offered by the 200 day moving average. The conforming rate is at 3.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England,...
09/24/2019
