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Mortgage and Lending - The Federal Savings Bank/Lending in 50 states - NMLS # 109616

ARCHIVED BLOG POSTS

2022 

Home borrowing costs fell this week but remain well above levels seen earlier this year. Freddie Mac reports that the 30-year fixed-rate mortgage fell to 5.70% this week from 5.81% last week with an average of 0.8 in points and fees. A year ago the rate was 2.98%. The 15-year inched declined to 4...
06/30/2022
Mortgage backed securities were up 25 basis points today at 100.34 having closed 468 points below the 200 day moving average. The conforming rate is at 6.0% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 6.00%. Whether in New England, the Mid Atlantic or the...
06/30/2022
Wednesday - June 29   The final read on Q1 2022 Gross Domestic Product came in at -1.6% from -1.5% as recession fears loom. Right now, Q2 is forecasted at an anemic 0.3%. Q2 2022 GDP will be released on July 28. Recession signals have ramped up this week with the Consumer Confidence number fallin...
06/29/2022
Mortgage backed securities were up 47 basis points today at 100.09 having closed 497 points below the 200 day moving average. The conforming rate is at 6.0% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 6.00%. Whether in New England, the Mid Atlantic or the...
06/29/2022
New Home Sales rose 10.7% in May from April to an annual rate of 696,000 units versus the 588,000 expected. April was revised higher to 629,000 from 591,000. Sales were down 5.9% from May 2021. Sales fell in the Northeast and Midwest and rose in the South and West. The median price rose nearly 16...
06/24/2022
Mortgage backed securities were down 9 basis points today at 99.91 having closed 403 points below the 200 day moving average. The conforming rate is at 6.0% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 6.00%. Whether in New England, the Mid Atlantic or the...
06/24/2022
Home borrowing costs increased this week to their highest levels since late 2008. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 5.81% this week from 5.78% last week with an average of 0.8 in points and fees. A year ago the rate was 3.02%. The 15-year inched higher to 4.92% from...
06/23/2022
Mortgage backed securities were up 28 basis points today at 100.00 having closed 398 points below the 200 day moving average. The conforming rate is at 6.0% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 6.00%. Whether in New England, the Mid Atlantic or the...
06/23/2022
Existing Homes Sales fell for the fourth month in a row in May to an annual rate of 5.41 million units, down 3.4% from April and down 8.4% from a year ago. Inventories sit at a low 2.6 month supply up from 2.2 months in April. The median home prices rose to a record $407,600, up 18.4% from a year...
06/21/2022
Happy summer!! Mortgage backed securities were down 3 basis points today at 99.28 having closed 477 points below the 200 day moving average. The conforming rate is at 6.0% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid ...
06/21/2022
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Jeff Jensen

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