ARCHIVED BLOG POSTS
2021
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Inflation pressures rose in December as Fed members look for a general increase in prices and fall in the purchasing value of money. The Fed's favorite inflation gauge, the Core PCE, rose 1.5% annually in December, up from 1.4% in November and above the 1.3% expected. Monthly Core PCE was up 0.3...
01/29/2021
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Mortgage backed securities (MBS) market closed down 3 basis points today at 103.25 having closed 41 points above 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 England, the Mid Atl...
01/29/2021
Home prices continue to move higher due in part to the shift from urban apartments to suburban homes. The November S&P Case-Shiller 20-City Home Price Index saw an annual gain of 9.1% from November 2019. There was a 1% monthly increase from October to November. The National Index saw a 9.5% incre...
01/26/2021
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Mortgage backed securities (MBS) market closed up 9 basis points today at 103.38 having closed 57 points above 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 England, the Mid Atlan...
01/26/2021
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The U.S. housing market continues to be a stronghold for the economy as positive data hit the airwaves. The National Association of REALTORS® (NAR) reports that Existing Home Sales in December rose 0.7% to an annual rate of 6.760,000 units, above the 6,500,000 expected. Sales were up 22% from De...
01/22/2021
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Mortgage backed securities (MBS) market closed up 12 basis points today at 103.25having closed 46 points above 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 England, the Mid Atlan...
01/22/2021
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Mortgage rates remained at record lows in the latest survey but have inched higher in the latest survey. The MBA reports that the 30-year fixed-rate mortgage rose four basis points to 2.92% with 0.37 in points for the week ended January 15, 2021. The Market Composite Index, a measure of total mo...
01/20/2021
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Mortgage backed securities (MBS) market closed up 16basis points today at 103.16 having closed 39 points above 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 England, the Mid Atlan...
01/20/2021
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Consumer spending fell in December as a rise in virus cases kept shoppers away from stores. Retail Sales fell 0.7% versus the 0.2% loss expected in December after losses seen in October and November. This comes after it was reported that 500,000 workers lost their jobs in restaurants and bars, h...
01/15/2021
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Mortgage backed securities (MBS) market closed up 22 basis points today at 103.00 having closed 26 points above 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 England, the Mid Atla...
01/15/2021
