ARCHIVED BLOG POSTS
2018
A strong U.S. economy, job market and business activity pushed mortgage rates higher in the latest week. Freddie Mac reports that the 30-year fixed-rate mortgage rose 11 basis points in the latest week to 4.94% with an average of 0.50 in points and fees. Freddie Mac said, "Higher mortgage rates h...
11/08/2018
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Mortgage backed securities (MBS) closed down 6 basis points today at 99.53 having remained below resistance offered by the 10 day moving average and closed 36 points below it. The conforming rate is at 5.125% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.750%. ...
11/08/2018
The midterm elections produced a split Congress, which investors are taking in stride as both Stock and Mortgage Bond prices are rising ahead of this afternoon's release of the Fed statement. The Republicans remained in control of the Senate by a slim margin while the Democrats took control of th...
11/07/2018
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Mortgage backed securities (MBS) closed up 8 basis points today at 99.62 having remained below resistance offered by the 10 day moving average and closed 33 points below it. The conforming rate is at 5.00% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.6250%. W...
11/07/2018
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CoreLogic reports that home prices nationwide, including distressed sales, rose 5.6% year over year in September 2018 compared to September 2017. The 5.6% is down from June's 7.1% year-over-year increase as home price gains moderate to more historical levels. Month--over month saw a 0.4% rise. F...
11/06/2018
CoreLogic reports that home prices nationwide, including distressed sales, rose 5.6% year over year in September 2018 compared to September 2017. The 5.6% is down from June's 7.1% year-over-year increase as home price gains moderate to more historical levels. Month--over month saw a 0.4% rise. Fr...
11/06/2018
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Mortgage backed securities (MBS) closed down 9 basis points today at 99.53 having remained below resistance offered by the 10 day moving average and closed 47 points below it. The conforming rate is at 5.00% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.6250%. ...
11/06/2018
The service sector of the U.S. economy, which makes up a large portion of the economy, continued to strengthen in October. The ISM Service Index edged lower to 60.3, below the 21-year high of 61.6 hit in September. The report showed that every major sector of the service industry expanded in Octo...
11/05/2018
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Mortgage backed securities (MBS) closed up 3 basis points today at 99.59 having remianed below resistance offered by the 10 day moving average and closed 45 points below it. The conforming rate is at 5.00% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.6250%. W...
11/05/2018
The job market continued to strengthen in October and rebounded after an ease in job growth in September due in part to severe weather on the East Coast. The Bureau of Labor Statistics reported that U.S. employers added 250,000 new workers in October while year-over-year wage growth hit nine-year...
11/02/2018