Jeff Jensen's Blog

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

ARCHIVED BLOG POSTS

2019 

Yesterday Fed Chair Powell's testimony in front of the Senate Banking Committee reiterated the Fed will remain patient on interest rate hikes while watching the incoming data. He went on to say that the FOMC will "evaluate the appropriate timing and approach for the end of the balance sheet runof...
02/27/2019
Mortgage backed securities (MBS) closed down 12 basis points today at 102.03 having closed 70 points above support offered by the 200 day moving average.  The conforming rate is at 4.50% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.375%.  Whether in New England...
02/27/2019
Delayed December Housing Starts fell 11.2% from November to an annual rate of 1.078 million units versus the 1.254 million expected. It was the slowest pace since September 2016. Building Permits were essentially unchanged at 1.326 million versus the 1.290 million expected. Year-over-year, Housin...
02/26/2019
Mortgage backed securities (MBS) closed up 9 basis points today at 102.16 having closed 83 points above support offered by the 200 day moving average.  The conforming rate is at 4.50% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.375%.  Whether in New England, t...
02/26/2019
This week is filled with risk-events that could bring in an uptick in volatility. This week features a slew of economic reports from housing, manufacturing, consumer attitudes, personal income and spending along with the inflation reading Core PCE. Fed Chair Powell will be in front of Congress on...
02/25/2019
Mortgage backed securities (MBS) closed down 6 basis points today at 102.06 having closed 73 points above support offered by the 200 day moving average.  The conforming rate is at 4.50% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.375%.  Whether in New England,...
02/25/2019
Lower mortgage rates coupled with an increase in refinance application volume spurred on an increase in refinance closings in January, reports Ellie Mae. The January Ellie Mae Origination Insight Report showed the percentage of refinance closings increased to 35% of total applications, up from 29...
02/22/2019
Mortgage backed securities (MBS) closed up 16 basis points today at 102.12 having closed 79 points above support offered by the 200 day moving average.  The conforming rate is at 4.50% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.375%.  Whether in New England, ...
02/22/2019
 Mortgage rates continued to decline this week and are at 12-month lows falling for the third consecutive week. Freddie Mac reports that the 30-year fixed-rate mortgage fell two basis points to 4.35% with an average 0.5 in points and fees. Last year this time, the rate was 4.40%. Sam Khater, Fred...
02/22/2019
Mortgage backed securities (MBS) closed down 9 basis points today at 101.977 having closed 64 points above support offered by the 200 day moving average.  The conforming rate is at 4.50% day. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.375%.  Whether in New England...
02/22/2019
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