ARCHIVED BLOG POSTS
2018
The Commerce Department reported on Wednesday that New Home Sales fell 1.5% in April from May to an annual rate of 662,000 units, below the 677,000 expected. Sales in March were revised lower to 672,000 from 694,000 while January and February were also revised lower. However, sales were up 11.6% ...
05/23/2018
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Mortgage backed securities (MBS) closed up 34 basis points today at 101.56 having broken through resistance offered by both the 10 day and 25 moving averages and come to rest just 39 basis points below the 50 day. The 30 year was available at 4.75% day. My jumbo pricing is now sizzling! The 3...
05/23/2018
The New York Federal Reserve released its Household Debt and Credit Report for the first quarter of 2018 revealing that household debt increased in the first quarter of 2018 for the 15th consecutive quarter. As of March 31, 2018, total household indebtedness was $13.21 trillion, a $63 billion (0....
05/23/2018
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Mortgage backed securities (MBS) closed flat today at 101.22 having remained below resistance offered by the 10 day moving average and closed just 14 points below it. The 30 year was available at 4.75% day. The 30 year jumbo for $1 million was at 4.50%. My jumbo pricing is now sizzling! Whet...
05/23/2018
The National Association of REALTORS® (NAR) released its midyear forecasts revealing that a stronger economy, higher wage growth and a tight labor market are expected to push both home sales and prices higher in 2018. However, low inventories of homes for the sale on the market along with fallin...
05/21/2018
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Mortgage backed securities (MBS) closed down 3basis points at 101.22 having remained below resistance offered by the 10 day moving average and closed just 14 points below it. The 30 year was available at 4.75% day. The 30 year jumbo for $1 million was at 4.50%. My jumbo pricing is now sizzlin...
05/21/2018
Fannie Mae released its May 2018 Economic and Housing Outlook yesterday revealing that despite a lusterless first three months of 2018, it expects home sales to post decent gains both this year and next, as prices increase and affordability declines amid low inventory. On the economic front, Fan...
05/18/2018
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Mortgage backed securities (MBS) closed up 34 basis points at 101.26 having remained below resistance offered by the 10 day moving average and closed just 11 points below it. The 30 year was available at 4.75% day. Look out for higher rates tomorrow. The 30 year jumbo for $1 million was at 4....
05/18/2018
Mortgage rates continued their trek higher this week due in part to the continued growth in the U.S. economy and a tight labor market. Positive economic data usually pushes Bond prices lower, which leads to higher rates. Freddie Mac reports that the 30-year fixed-rate mortgage rose five basis p...
05/17/2018
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Mortgage backed securities (MBS) closed flat today at 100.94 having remained below resistance offered by the 10 day moving average and closed 53 points below it. The 30 year was available at 4.875% day. Look out for higher rates tomorrow. The 30 year jumbo was at 4.50%. My jumbo pricing is no...
05/17/2018
