ARCHIVED BLOG POSTS
2019
Manufacturing in the Philadelphia region picked up this month which is good news for the sector given the recent slowdown due to the trade issues between China and the US. The Philadelphia Fed Index jumped 5 points in November to 10.4 and above the 5.5 expected. Most firms reported overall increa...
11/21/2019
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Mortgage backed securities (MBS) closed down 3 basis points today at 102.62 having closed 86 points above support offered by the 200 day moving average. The conforming rate is at 3.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England,...
11/21/2019
The Mortgage Bankers Association (MBA) reports that the Market Composite Index, a measure of total mortgage loan application volume, fell 2.2% in the week ending November 15, 2019. The Refinance Index decreased by 8% while the Purchase Index rose 7%. The 30-year fixed-rate mortgage was essentiall...
11/20/2019
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Mortgage backed securities (MBS) closed up 6 basis points today at 102.69 having closed 94 points above support offered by the 200 day moving average. The conforming rate is at 3.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England, t...
11/20/2019
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October Housing Starts rose 4% from September to an annual rate of 1.314 million units, above the 1.3 million expected while September was revised higher. Single-family starts rose for the fifth straight month. Building Permits, a sign of future construction, jumped 5% to an annual rate of 1.461 ...
11/19/2019
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Mortgage backed securities (MBS) closed flat today at 102.62 having closed 89 points above support offered by the 200 day moving average. The conforming rate is at 3.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England, the Mid Atlant...
11/19/2019
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Single-family home builders reported a positive environment in November due in part to low mortgage rates and continued job growth here in the US. The National Association of Home Builders said its Housing Market Index fell one point to 70 this month from 71 in October. This time last year the nu...
11/18/2019
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Mortgage backed securities (MBS) closed up 3 basis points today at 102.62 having closed 90 points above support offered by the 200 day moving average. The conforming rate is at 3.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England, t...
11/18/2019
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The consumer is alive and well and continues to drive the U.S. economy. October Retail Sales rose 0.3%, higher than the 0.2% gain expected boosted by auto sales and higher gasoline prices. Consumer spending making up nearly 70% of Gross Domestic Product. Retail Sales grew 2.9% year over year. Con...
11/15/2019
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Mortgage backed securities (MBS) closed flat today at 102.59 having closed 88 points above support offered by the 200 day moving average. The conforming rate is at 3.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.125%. Whether in New England, the Mid Atlant...
11/15/2019
