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 

Inflation woes were allayed a bit this morning when a key gauge was better than feared. The June Core PCE grew 0.4%, slower than the 0.5% rise in May and below the gain of 0.6% expected. The annual Core PCE increased 3.5% from 3.4%. The Core PCE measures prices paid by consumers for goods and ser...
07/30/2021
Mortgage backed securities closed up 6 basis points today at 102.00 having closed 12 points above the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.125%. Whether in New England, the Mid Atlantic or the Mi...
07/30/2021
Home borrowing costs were essentially unchanged this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose two basis points to 2.80% last week with 0.7 in points and fees. It is up from 2.65% on January 7 of this year. The Fed signaled on Wednes...
07/29/2021
Mortgage backed securities closed down 7 basis points today at 101.81 having closed 7 points below the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.125%. Whether in New England, the Mid Atlantic or the M...
07/29/2021
Rising material and labor costs weighed on new home sales last month as the sector has seen some slowdown in the past few months. June New Home Sales fell 6.6% in June from May to an annual rate of 676,000 units versus the 800,000 expected. Sales plunged in the Northeast, fell in the West and Sou...
07/26/2021
Mortgage backed securities closed down 12 basis points today at 101.56 having closed 25 points below the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.125%. Whether in New England, the Mid Atlantic or the...
07/26/2021
Home borrowing costs fell this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage fell ten basis points to 2.78% last week with 0.7 in points and fees. A year ago at this time, the rate was 3.01%. It is up from 2.65% on January 7 of this year. Sam...
07/22/2021
Mortgage backed securities closed up 19 basis points today at 101.66 having closed 26 points below the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.125%. Whether in New England, the Mid Atlantic or the M...
07/22/2021
Home borrowing costs were essentially unchanged last week and remain at historically low levels. The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage rose two basis points to 3.11% with 0.43 in points for the week ending July 16, 2021. The Market Composite Index, a measur...
07/21/2021
Mortgage backed securities closed down 34 basis points today at 101.44 having closed 49 points below the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.125%. Whether in New England, the Mid Atlantic or the...
07/21/2021
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