Jeff Jensen's Blog

Mortgage rates inched lower in the latest week falling three weeks in a row. The 30-year fixed-rate mortgage fell to 5.33% from 5.46% with 0.51 points for the week ended May 27, 2022, reports the MBA. Within the data it showed that the Market Composite Index, a measure of total mortgage applicati...

Mortgage backed securities were down 34 basis points today at 99.66 having closed 499 points below the 200 day moving average. The conforming rate is at 5.00% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or t...

Home borrowing costs fell again this week after the significant rise seen since a year ago. Freddie Mac reports that the 30-year fixed-rate mortgage slipped to 5.10% from 5.25% last week with an average of 0.9 in points and fees. A year ago the rate was 2.95%. The 15-year fell to 4.31% from 4.43%...

Mortgage backed securities were flat today at 100.41 having closed 431 points below the 200 day moving average. The conforming rate is at 5.00% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or the Midwest or a...

Surging mortgage rates coupled with record-high prices weighed on sales of new single-family homes in April as purchases fell to a two-year low. New Home Sales dropped 16.6% from March to April to an annual rate of 591,000 units versus the 750,000 expected and were down nearly 17% from April 2021...

Mortgage backed securities were up  56 basis points today at 100.19 having closed 463 points below the 200 day moving average. The conforming rate is at 5.00% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or t...

Mortgage backed securities were up 22 basis points today at 99.97 having closed 492 points below the 200 day moving average. The conforming rate is at 5.00% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or the...

Existing Home Sales fell 2.4% in April from March to an annual rate of 5.61 million units versus 5.65 million expected and fell three months in a row. Sales were down 5.9% from April 2021. Sales fell in the South and West and rose modestly in the Northeast and Midwest. The median home sale price ...

Mortgage backed securities were up 41 basis points today at 99.75 having closed 518 points below the 200 day moving average. The conforming rate is at 5.00% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was around 4.50%. Whether in New England, the Mid Atlantic or the...

April Housing Starts fell 0.2% from March to an annual rate of 1.724 million units versus 1.765 million expected. Starts were up 14.6% from a year ago. Building Permits dropped 3.2% to 1.819 million versus 1.812 million. Single-family starts rose 3.7% annually and were down 7.3% monthly. Multi-fa...