ARCHIVED BLOG POSTS
2022
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Home borrowing costs fell again this week after the significant rise seen since a year ago. Freddie Mac reports that the 30-year fixed-rate mortgage slipped to 5.10% from 5.25% last week with an average of 0.9 in points and fees. A year ago the rate was 2.95%. The 15-year fell to 4.31% from 4.43%...
05/27/2022
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Mortgage backed securities were flat today at 100.41 having closed 431 points below the 200 day moving average. The conforming rate is at 5.00% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or the Midwest or a...
05/27/2022
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Surging mortgage rates coupled with record-high prices weighed on sales of new single-family homes in April as purchases fell to a two-year low. New Home Sales dropped 16.6% from March to April to an annual rate of 591,000 units versus the 750,000 expected and were down nearly 17% from April 2021...
05/24/2022
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Mortgage backed securities were up 56 basis points today at 100.19 having closed 463 points below the 200 day moving average. The conforming rate is at 5.00% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or t...
05/24/2022
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Mortgage backed securities were up 22 basis points today at 99.97 having closed 492 points below the 200 day moving average. The conforming rate is at 5.00% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or the...
05/20/2022
Existing Home Sales fell 2.4% in April from March to an annual rate of 5.61 million units versus 5.65 million expected and fell three months in a row. Sales were down 5.9% from April 2021. Sales fell in the South and West and rose modestly in the Northeast and Midwest. The median home sale price ...
05/19/2022
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Mortgage backed securities were up 41 basis points today at 99.75 having closed 518 points below the 200 day moving average. The conforming rate is at 5.00% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or the...
05/19/2022
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April Housing Starts fell 0.2% from March to an annual rate of 1.724 million units versus 1.765 million expected. Starts were up 14.6% from a year ago. Building Permits dropped 3.2% to 1.819 million versus 1.812 million. Single-family starts rose 3.7% annually and were down 7.3% monthly. Multi-fa...
05/18/2022
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Mortgage backed securities were up 31 basis points today at 99.28 having closed 568 points below the 200 day moving average. The conforming rate is at 5.00% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or the...
05/18/2022
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April Retail Sales rose a strong 0.9%, which was inline with estimates while March was revised higher to 1.4% from 0.7%. Core Retail Sales were up 0.6% versus 0.4% while March was revised higher to 2.1% from 1.4%. However, Retail sales aren't adjusted for inflation. That means that while consumer...
05/17/2022
