Jeff Jensen's Blog

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Mortgage and Lending - The Federal Savings Bank/Lending in 50 states - NMLS # 109616
RECENT BLOG POSTS
An economic slowdown is hitting the U.S. as evidenced by recent findings from the Atlanta Fed Reserve Bank. After Gross Domestic Product (Gross Domestic Product) fell 1.6% in Q1 2022, economic growth or GDP is now forecasted to be -2.1% for Q2 2022. Currently, a recession is defined as two consec...
07/05/2022
Mortgage backed securities were up 25basis points today at 101.00 having closed 395 points below the 200 day moving average. The conforming rate is at 5.875% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 5.875%. Whether in New England, the Mid Atlantic or t...
07/05/2022
Mortgage backed securities were up 44 basis points today at 100.78 having closed 421 points below the 200 day moving average. The conforming rate is at 5.875% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 5.875%. Whether in New England, the Mid Atlantic or ...
07/01/2022
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
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Jeff Jensen

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