ARCHIVED BLOG POSTS
2018
Despite the strong job market here in the U.S., banking and lending giant Wells Fargo plans on cutting up to 26,500 jobs, or 10% of its workforce, over the next three years. The bank said that the move into digital banking and the firm's efficiency programs would result in the layoffs along with ...
09/21/2018
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Mortgage backed securities (MBS) closed up 3 basis point today at 100.8 having remained below resistance offered by the 10 day moving average and closed 30 points below it. The conforming rate is at 4.875% day. My jumbo pricing is now. sizzling! The 30 year jumbo for $1 million was at 4.50%. Wh...
09/21/2018
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The National Association of REALTORS® reports that after four straight months of declines, Existing Home Sales were unchanged in August from July at an annual rate of 5.34 million units. That was below the 5.37 million expected. Flat sales were due to a balance of gains in the Northeast and Midwe...
09/20/2018
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Mortgage backed securities (MBS) closed up 3 basis point today at 100.81 having remained below resistance offered by the 10 day moving average and closed 30 points below it. The conforming rate is at 4.875% day. My jumbo pricing is now. sizzling! The 30 year jumbo for $1 million was at 4.50%. W...
09/20/2018
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Housing Starts surpassed estimates in August, rising 9.2 percent from July to a seasonally adjusted annual rate of 1.282 million units. This was above the 1.229 million expected. Single-family starts, which make up the largest share of the residential housing market, rose 1.9 percent. However, th...
09/19/2018
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Mortgage backed securities (MBS) closed down 1 basis point today at 100.81 having remained below resistance offered by the 10 day moving average and closed 42 points below it. The conforming rate is at 4.75% day. My jumbo pricing is now. sizzling! The 30 year jumbo for $1 million was at 4.50%. ...
09/19/2018
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Home builder sentiment held steady at 67 in September, per the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Readings over 50 are considered positive. The price of lumber has declined since the highs seen in the spring, which is a welcome sign. NAHB Chairman Randy ...
09/18/2018
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Mortgage backed securities (MBS) closed up 3 basis points today at 100.81 having remained below resistance offered by the 10 day moving average and closed 52 points below it. The conforming rate is at 4.75% day. My jumbo pricing is now. sizzling! The 30 year jumbo for $1 million was at 4.50%. W...
09/18/2018
Housing data dominates the headlines this week with news on August Housing Starts and Building Permits releasing on Wednesday and Existing Home Sales on Thursday. Housing Starts rebounded slightly in July after hitting a nine-month low in June, while sales of existing homes saw a fourth straight ...
09/17/2018
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Mortgage backed securities (MBS) closed up 3 basis points today at 101.12 having remained below resistance offered by the 10 day moving average and closed 26 points below it. The conforming rate is at 4.75% day. My jumbo pricing is now. sizzling! The 30 year jumbo for $1 million was at 4.50%. W...
09/17/2018
