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

ARCHIVED BLOG POSTS

2013 

      A while back someone asked for a comparison of current rates and potentially higher rates to use an incentive for buyers to act sooner than later.  Here  is one you can use.                Currently a $750,000 purchase with $150,000 (20% down) would yield a payment of $3.084 on a $600,000 m...
06/28/2013
         Rising Rates Cause Paradigm shift - Frequently when rates move up and especially when they move so quickly, borrowers cast aside some of their inhibitions an move from fixed rate products to adjustable rates.  As a case in point today’s jumbo 30 year at 4.625% on a 1million loan would yi...
06/28/2013
         After a selloff of over 750 points since May 1st, MBS bonds gained back 150 points last week.  Because of the size of the selloff, lenders were slow to improve their rates sheets.  We are still cautiously floating but the volatility can rush in and move markets in an instant.  Because th...
06/28/2013
         Rates have stopped their cliff jumping ways of the past couple weeks.  Conforming 30 year rates which had risen to a height of 4.50% were at 4.375% Friday.  The high balance conforming rate had fallen from 4.75 to 4.625 as had the jumbo 30 year.  Jumbo ARMs  began rising on the 21st. The...
06/28/2013
Stock futures began the day looking positive after last week's sell-off in part due to all the chatter about the Fed ending QE3 and slowing its purchase of bonds.  The other force driving stocks down last week was a poor report from China on manufacturing.  Today China said they would keep their ...
06/25/2013
Mortgage backed securities (MBS) closed down 35 basis points today having landed squarely on the "par" level at 100.00.  We have switched our focus from the 3.0% coupon bond to the 3.5% coupon bond.  Remember that when these mortgages are securitized, sold to Wall Street for packaging, they add a...
06/25/2013
Wow again!!   What a start to summer.  Mortgage backed securities (MBS) closed down another 134 basis points today at 96.66 after yesterday 186 basis point sell off.  The yield on the 10 year Treasury rose to 2.54% which was the biggest one week selloff in a decade.  All this because Fed Chief Be...
06/21/2013
Mortgage backed securities (MBS) closed down another 53 basis point today at 98.03 after another day during which it seems every market was mauled by continued worries about the ending of QE3 an d further worries about a declining economy in China. The world needs Chinese manufacturing to do well...
06/20/2013
In a word, WOW!!  Mortgage backed securities (MBS) closed down a whopping 156 basis points today at 98.56 almost 150 basis points below the 100,00 level which is known as par.  That is one of the biggest selloffs I can remember.  And why all this selling?  The same old reason that has been causin...
06/19/2013
Mortgage backed securities (MBS) closed up 3 basis points today at 100.09 having remained above  the all important support level at "par" represented by the 100.00 level.  MBS bonds have made several attempts to break away from the recent low levels to little avail.  It will be interesting to see...
06/18/2013
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