ARCHIVED BLOG POSTS
2021
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First-time unemployment claims fell to a post-shutdown low in the latest week as the sector continues to get back to full strength. At present, there are 10.1 million jobs available across the nation, according to the Bureau of Labor Statistics. Weekly Initial Jobless Claims fell to 348,000 for t...
08/19/2021
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Mortgage backed securities closed up 6 basis points today at 101.38having closed 38 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 3.00%. Whether in New England, the Mid Atlantic or the Midw...
08/19/2021
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July Housing Starts fell 7% from June to an annual rate of 1,534,000 units versus 1,610,000 million expected as builders continue to cite supply constraints and higher material costs for the pullback. But those woes may soon be loosening as production ramps up and as lumber prices have recently p...
08/18/2021
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Mortgage backed securities closed up 6 basis points today at 101.31having closed 46 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 3.00%. Whether in New England, the Mid Atlantic or the Midw...
08/18/2021
Taper talk has escalated ahead of next week's Jackson Hole Symposium. The Federal Reserve is currently purchasing up to $4.5 billion per day in Mortgage Backed Securities to hold rates low. Last week several Fed members expressed that taper talk, or cutting back on those purchases, should begin a...
08/16/2021
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Mortgage backed securities closed flat today at 101.34 having closed 45 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 3.00%. Whether in New England, the Mid Atlantic or the Midwest or anywh...
08/16/2021
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Mortgage backed securities closed up 28 basis points today at 101.31 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 3.00%. Whether in New England, the Mid Atlantic or the Mi...
08/13/2021
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Home borrowing costs rose this week and remain just above historic lows. Freddie Mac reports that the 30-year fixed-rate mortgage jumped ten basis points to 2.87% with 0.7 in points and fees. The record low was 2.65% on January 7 of this year. Sam Khater, Freddie Mac’s Chief Economist said, “Afte...
08/12/2021
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Mortgage backed securities closed down 6 basis points today at 101.03 having closed 78 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 3.00%. Whether in New England, the Mid Atlantic or the M...
08/12/2021
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Home borrowing costs inched higher in the latest week and remain just above record lows. The Mortgage Bankers Association (MBA) reports that the 30-year fixed-rate mortgage rose two basis points to 2.99% with 0.30 in points for the week ending August 6, 2021. Within the report it showed that the ...
08/11/2021
