ARCHIVED BLOG POSTS
2021
Inflation data for January was inline with estimates though pockets of prices have surged. For instance, lumber prices have soared over the past year which is or will be added the price of a new home. The price for lumber hit $1,000 recently up from $264 on April 2, 2020. The NAHB is urging Cong...
02/26/2021
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Home borrowing costs continued to rise this week but remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 2.97% from 2.81% with 0.6 in points and fees. A year ago at this time, the rate averaged 3.49%. Sam Khater, Freddie Mac’s Chief Economist, said...
02/25/2021
Mortgage backed securities closed down 116 basis points today at 99.88 having closed 302 points below the 200 day moving average. The conforming rate is at 2.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 2.875%. Whether in New England, the Mid Atlantic or th...
02/25/2021
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The House of Representatives is expected to vote on the $1.9T stimulus relief plan this week and will most likely get passed without GOP support. Huge government spending continues to impact the bond markets negatively way as rates have inched higher in the past month. The bill includes $1,400 di...
02/22/2021
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Mortgage backed securities closed down 44 basis points today at 101.25 having closed 167 points below the 200 day moving average. The conforming rate is at 2.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 2.875%. Whether in New England, the Mid Atlantic or th...
02/22/2021
The National Association of REALTORS reports that Existing Homes Sales rose 0.6% in January from December to an annual rate of 6,690,000 annualized units. Sales were up nearly 24% from a year ago. Gains were seen in the Midwest and South, with declines in the Northeast and West. The median exist...
02/19/2021
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Mortgage backed securities closed down 28 basis points today at 101.66 having closed 126 points below the 200 day moving average. The conforming rate is at 2.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 2.875%. Whether in New England, the Mid Atlantic or th...
02/19/2021
Home borrowing costs inched higher this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 2.81% from 2.73% with 0.7 in points and fees. A year ago at this time, the rate averaged 3.49%. Sam Khater, Freddie Mac’s Chief Economist, said, “R...
02/18/2021
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Mortgage backed securities closed down 6 basis points today at 101.94 having closed 98 points below the 200 day moving average. The conforming rate is at 2.50% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 2.875%. Whether in New England, the Mid Atlantic or the ...
02/18/2021
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Mortgage rates remained at record lows in the latest survey but inched higher last week. The MBA reports that the 30-year fixed-rate mortgage rose two basis points to 2.98% with 0.37 in points for the week ended February 12, 2021. The Market Composite Index, a measure of total mortgage loan appl...
02/17/2021
