ARCHIVED BLOG POSTS
2020
The U.S. consumer is alive and well as evidenced by strong spending numbers in September. Personal Spending surged by 1.4% in September, above the 1% expected and up from 1% in August. Incomes rose by 0.9%, also surpassing estimates. Retailers are hoping for a strong holiday season and it will de...
10/30/2020
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Mortgage backed securities (MBS) market closed up 3 basis points today at 104.19 having closed 69 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 2.875%. Whether in New En...
10/30/2020
The Census Bureau reports that New Home Sales fell 3.5% in September from August to an annual rate of 959,000 units versus the 1,022,000 expected and down from 994,000 in August, which was revised from 1,011,000. However, sales soared 32% from a year ago. Inventories are at 3.6 months, below 6 mo...
10/26/2020
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Mortgage backed securities (MBS) market closed up 6 basis points today at 104.19 having closed 79 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 2.875%. Whether in New En...
10/26/2020
The housing sector continues to be a beacon of light for the U.S. housing market which is being fueled by ultra-low rates as well as a shift from the cities to the suburbs. The U.S. Census Bureau and the Department of Housing and Urban Development reports that single-family starts jumped 8.5% mon...
10/20/2020
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Mortgage backed securities (MBS) market closed down 6 basis points today at 104.34 having closed 103 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 2.875%. Whether in New...
10/20/2020
Fannie Mae released its Economic and Housing Outlook for October revealing that housing demand continues to outstrip supply, compounding affordability issues. Fannie Mae went on to say that it expects supply constraints and diminishing, pent-up demand will lead to a pullback in sales activity in ...
10/19/2020
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Mortgage backed securities (MBS) market closed down 12 basis points today at 104.41 having closed 113 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 2.875%. Whether in Ne...
10/19/2020
Home borrowing costs hit fresh record lows in the latest survey and continue to buoy the housing market. Freddie Mac reports that the 30-year fixed-rate mortgage fell to 2.81% this week from 2.87% last week with 0.6 in points and fees. A year ago at this time, the rate averaged 3.69%. Sam Khater,...
10/16/2020
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Mortgage backed securities (MBS) market closed up 3 basis points today at 104.53 having closed 128 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 2.875%. Whether in New E...
10/16/2020
