ARCHIVED BLOG POSTS
2020
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Signed contracts of existing homes slipped in October from November though gains remain strong from a year ago. The National Association of REALTORS® reports that Pending Home Sales fell 1.1% in October from September versus the 1% gain expected. Sales were up 20.2% from October 2019. Small loss...
11/30/2020
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Mortgage backed securities (MBS) market closed down 6basis points today at 103.942 having closed 195 points above support offered by the 200 day moving average. The conforming rate is at 2.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 2.875%. Whether in New ...
11/30/2020
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More positive news in housing as the S&P Case-Shiller 20-City Home Price Index rose 6.6% annually in September while the National Index jumped 7% year over year. The housing sector continues to astound the markets with strong results fueled by low rates along with a rush to the suburbs. On a mont...
11/24/2020
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Mortgage backed securities (MBS) market closed down 6basis points today at 103.562 having closed 172 points above support offered by the 200 day moving average. The conforming rate is at 2.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 2.875%. Whether in New ...
11/24/2020
Due to a big uptick in mortgage application volumes, closing times have increased in the past few months. Ellie Mae reports that from September to October, the average time to close all loans rose to 54 days from 51. The average time to close a refinance increased from 54 to 57 days and average t...
11/23/2020
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Mortgage backed securities (MBS) market closed down 6basis points today at 103.562 having closed 172 points above support offered by the 200 day moving average. The conforming rate is at 2.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 2.875%. Whether in New ...
11/23/2020
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Mortgage backed securities (MBS) market closed down 3 basis points today at 103.62 having closed 81 points above support offered by the 200 day moving average. The conforming rate is at 2.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 2.875%. Whether in New E...
11/20/2020
The housing sector continues to be an anchor for the U.S. economy fueled in part by low rates. October Housing Starts rose 5% from September to an annual rate of 1,530,000 versus the 1,445,000 expected. September's numbers were revised higher to 1,459,000 from 1,415,000. Starts were up 14% annual...
11/18/2020
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We switched from the 2.50% coupont to the 2.00% coupon today so the numbers are subastanially different from yesterday's. Mortgage backed securities (MBS) market closed down basis points today at 103.47 having closed 73 points above support offered by the 200 day moving average. The conforming r...
11/18/2020
The housing market continues to sparkle and has been an anchor for the U.S. economy since May when the country started to reopen for business. The NAHB Housing Market Index rose to a record high of 90 in November and above the 85 expected. The three major components of the report, current sales c...
11/17/2020
