ARCHIVED BLOG POSTS
2021
Inflation woes were allayed a bit this morning when a key gauge was better than feared. The June Core PCE grew 0.4%, slower than the 0.5% rise in May and below the gain of 0.6% expected. The annual Core PCE increased 3.5% from 3.4%. The Core PCE measures prices paid by consumers for goods and ser...
07/30/2021
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Mortgage backed securities closed up 6 basis points today at 102.00 having closed 12 points above 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 3.125%. Whether in New England, the Mid Atlantic or the Mi...
07/30/2021
Home borrowing costs were essentially unchanged this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose two basis points to 2.80% last week with 0.7 in points and fees. It is up from 2.65% on January 7 of this year. The Fed signaled on Wednes...
07/29/2021
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Mortgage backed securities closed down 7 basis points today at 101.81 having closed 7 points below 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 3.125%. Whether in New England, the Mid Atlantic or the M...
07/29/2021
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Rising material and labor costs weighed on new home sales last month as the sector has seen some slowdown in the past few months. June New Home Sales fell 6.6% in June from May to an annual rate of 676,000 units versus the 800,000 expected. Sales plunged in the Northeast, fell in the West and Sou...
07/26/2021
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Mortgage backed securities closed down 12 basis points today at 101.56 having closed 25 points below 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 3.125%. Whether in New England, the Mid Atlantic or the...
07/26/2021
Home borrowing costs fell this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage fell ten basis points to 2.78% last week with 0.7 in points and fees. A year ago at this time, the rate was 3.01%. It is up from 2.65% on January 7 of this year. Sam...
07/22/2021
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Mortgage backed securities closed up 19 basis points today at 101.66 having closed 26 points below 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 3.125%. Whether in New England, the Mid Atlantic or the M...
07/22/2021
Home borrowing costs were essentially unchanged last week and remain at historically low levels. The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage rose two basis points to 3.11% with 0.43 in points for the week ending July 16, 2021. The Market Composite Index, a measur...
07/21/2021
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Mortgage backed securities closed down 34 basis points today at 101.44 having closed 49 points below 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 3.125%. Whether in New England, the Mid Atlantic or the...
07/21/2021
