Jeff Jensen's Blog

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

ARCHIVED BLOG POSTS

2021 

 Private payrolls surged in March as the labor market continues to improve as the remaining closed states reopen. The March ADP Private Payrolls report saw 517,000 new jobs created in the private sector, well above the 176,000 created in February. It was the largest gain since September. Nela Ric...
03/31/2021
Mortgage backed securities closed down 12 basis points today at 99.66 having closed 305 points below the 200 day moving average. The conforming rate is at 2.750% 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...
03/31/2021
 Inflation remained tame in February as the markets look for any signs of higher prices. The annual February Core PCE slipped to 1.4% from 1.5% in January while the monthly rate rose 0.1%. The runaway inflation fears could be somewhat over-hyped given that so many Americans are still out of work....
03/26/2021
Mortgage backed securities closed down 28 basis points today at 99.81 having closed 293 points below the 200 day moving average. The conforming rate is at 2.750% 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...
03/26/2021
 Harsh February weather across the nation weighed on consumer spending but March could see a big rebound now that stimulus checks have begun to hit the accounts of many Americans. February Retail Sales fell by 3% versus the decline of 0.6% expected while January was revised higher to a gain of 7....
03/16/2021
Mortgage backed securities closed down 9 basis points today at 100.03 having closed 279 points below the 200 day moving average. The conforming rate is at 2.750% 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...
03/16/2021
 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 3.05% from 3.02% with 0.6 in points and fees. A year ago at this time, the rate was not much higher at 3.36%. It is up from 2.65% on January 7 ...
03/11/2021
Mortgage backed securities closed flat today at 100.66 having closed 220 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 Midwest or any...
03/11/2021
 Mortgage rates inched higher in the latest survey but remain at historically low levels. The MBA reports that the 30-year fixed-rate mortgage rose three basis points to 3.23% with 0.43 in points for the week ended March 5, 2021. The Market Composite Index, a measure of total mortgage loan applic...
03/10/2021
 U.S. job growth surged in February with big gains seen in the ailing leisure and hospitality sectors of the economy. The Labor Department reports that Non-Farm Payrolls rose by 379,000 in February up from 166,000 in January which was revised from 49,000. This was well above expectations of 200,0...
03/05/2021
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