ARCHIVED BLOG POSTS
2020
Mortgage applications to purchase new homes unexpectedly rose in March from February due in part low rates and strong economic conditions at the start of the month. The Mortgage Bankers Association's (MBA) Builder Application Survey showed that new home purchase applications rose 14% last month a...
04/14/2020
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Mortgage backed securities (MBS) market closed flattoday at 103.81having closed 388 points above support offered by the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New England, the Mid A...
04/14/2020
Like the cavalry to the rescue, the Fed came over the hill today and set forth an unprecedented stimulus package to the tune of $2.3T to again provide liquidity, relief and help to stimulate the economy. From the Fed's statement this morning: The Federal Reserve on Thursday took additional action...
04/09/2020
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Mortgage backed securities (MBS) market closed up 22 basis points today at 104.47 having closed 459 points above support offered by the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New En...
04/09/2020
Mortgage rates were little changed in the latest survey and remain just above all-time lows. The Mortgage Bankers Association (MBA) reports that the 30-year fixed-rate mortgage rose two basis points to 3.49% with 0.28 in points. The MBAs Market Composite Index fell 18%, Purchase Index declined 12...
04/08/2020
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Mortgage backed securities (MBS) market closed up 16 basis points today at 104.25 having closed 440 points above support offered by the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New En...
04/08/2020
Home prices rose in February after solid gains in January though before the coronavirus became a threat here in the U.S. CoreLogic reports that home prices nationwide, including distressed sales, rose 4.1% from February 2019 to February 2020. On a monthly basis, prices rose 0.6% from January to F...
04/07/2020
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Mortgage backed securities (MBS) market closed up 9 basis points today at 104.06 having closed 423 points above support offered by the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New Eng...
04/07/2020
The coronavirus fallout continues to impact the U.S. economy and will continue for several months. The March Jobs Report showed 701,000 jobs lost, far below expectations and just the first in what will be a string of historic job losses. Based on nearly 10 million unemployment claims the last two...
04/03/2020
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Mortgage backed securities (MBS) market closed up 3 basis points today at 103.8 having closed 403 points above support offered by the 200 day moving average. The conforming rate is at 3.125% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New Eng...
04/03/2020
