ARCHIVED BLOG POSTS
2019
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Foreclosure starts fell to their lowest level in 18 years while low interest rates have increased prepayments by 5% from July to August, a three-year high. There were 36,200 foreclosure starts in August, down 23% from August 2018. August’s prepayment rate was up 62% from the same time last year a...
09/23/2019
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Mortgage backed securities (MBS) closed down 3 basis points today at 102.44 having closed 127 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 Englan...
09/23/2019
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The National Association of Realtors (NAR) reports that existing home sales rose 1.3% in August from July to an annual rate of 5.49 million units, above the 5.36 million expected. Overall, sales were up 2.6% from a year ago. The NAR said that buyers are finding it hard to resist the current low m...
09/19/2019
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Mortgage backed securities (MBS) closed flat today at 102.31 having closed 118 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, the Mid Atla...
09/19/2019
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Average FICO scores have been on the rise since the end of the Great Recession due in part to missed payments on mortgages and credit cards being purged from credit files. FICO (Fair, Isaac and Company) reports that average score has risen to 706, the highest on record compared to the 690 seen at...
09/17/2019
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Mortgage backed securities (MBS) closed flat today at 102.25 having closed 117 points above support offered by the 200 day moving average. The conforming rate is at 3.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.00%. Whether in New England, the Mid Atlant...
09/17/2019
Foreclosure activity increased month-over-month from July to August but declined from a year ago. ATTOM Data Solutions reports that that lenders started the foreclosure process for the first time on 27,886 property owners in August, up 7% from July though down 15% from a year ago. Across the nati...
09/16/2019
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Mortgage backed securities (MBS) closed up 13 basis points today at 102.22 having closed 116 points above support offered by the 200 day moving average. The conforming rate is at 3.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.00%. Whether in New England, ...
09/16/2019
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After suffering big losses in August due to negative trade headlines, US stock markets have reversed in September and are now just below the all-time highs seen in late July. Easing fears of an impending recession coupled with now-positive trade headlines have lifted the Dow, S&P, and NASDAQ. The...
09/13/2019
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Mortgage backed securities (MBS) closed down 2 basis points today at 102.09 having closed 104 points above support offered by the 200 day moving average. The conforming rate is at 3.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.00%. Whether in New England,...
09/13/2019
