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2020
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In economic news, the 2nd read on Q2 2020 Gross Domestic Product (GDP) was adjusted to -31.7% and where it is the worst quarterly read ever. However, Q3 2020 is expected to be the highest gain ever and the pandemic induced recession will be the shortest on record. The Atlanta Fed's GDPNow is esti...
08/27/2020
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Mortgage backed securities (MBS) market closed down 12 basis points today at 104.88 having closed 265 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New...
08/27/2020
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The U.S. Census Bureau reports that New Home Sales soared by 14% in July from June to an annual rate of 901,000 versus the 787,000 expected. Sales were up a whopping 36% annually. The median home price rose to $330,600 while the average sales price increased to $391,300. Monthly gains were seen i...
08/25/2020
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Mortgage backed securities (MBS) market closed down 6 basis points today at 104.94 having closed 277 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New ...
08/25/2020
On Saturday, the Wall Street Journal reported that the FHFA said it has been discussing with mortgage industry groups about delaying the new G-fee which would add a 0.5% surcharge to refinance mortgages sold to Fannie Mae and Freddie Mac starting September. 1. After the 0.5% increase announcement...
08/24/2020
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Mortgage backed securities (MBS) market closed down 6 basis points today at 105.03 having closed 286 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New ...
08/24/2020
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The job market took a step back this week as over a million Americans filed for first-time unemployment insurance. The Labor Department reports that Weekly Initial Jobless Claims rose to 1,106,000 for the week ending August 15, up from 963,000 in the previous week and above the 990,000 expected. ...
08/20/2020
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Mortgage backed securities (MBS) market closed down 3 basis points today at 105.09 having closed 301 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New ...
08/20/2020
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Mortgage backed securities (MBS) market closed up 9 basis points today at 105.03 having closed 301 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New En...
08/18/2020
Home builder sentiment surged to the highest level in decades due in part to record traffic and strong demand. The NAHB Housing Market Index rose six points to 78 in August for newly-built single-family homes. The NAHB reported that the measure charting traffic of prospective buyers posted an eig...
08/17/2020
