Jeff Jensen's Blog

Mortgage rates continued to remain at record low levels in the latest survey while mortgage application activity increased. The MBA reports that the 30-year fixed-rate mortgage fell by four basis points to 3.01% with 0.37 in points for the week ended October 2, 2020. The Market Composite Index, a...

Mortgage backed securities (MBS) market closed up 3 basis points today at 104.81 having closed 173 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.25%. Whether in New En...

The housing sector continues to produce positive headlines due in part to low rates along with an improving labor market. CoreLogic reports that home prices, including distressed sales, rose 5.9% from August 2019 to August 2020. It was the highest level since June 2018. Monthly, prices rose 1% fr...

Mortgage backed securities (MBS) market closed up 12 basis points today at 104.78 having closed 173 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.25%. Whether in New E...

After being decimated during the pandemic-induced shutdowns in late March, April and May, the service sector continues to rebound across the nation. The ISM Service Index rose to 57.8 in September from 56.9 in August and above the 57.3 seen pre-pandemic in February. ISM spokesperson Anthony Nieve...

Mortgage backed securities (MBS) market closed down 19 basis points today at 104.62 having closed 160 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.25%. Whether in New...

The housing sector continues to astound the markets and has been an anchor for the U.S. economy for the past four months. The National Association of REALTORS® reports that Pending Home Sales rose 8.8% in August to a record 132.8 for the index. Annually, the index surged 24.2%. However, the pace ...

Mortgage backed securities (MBS) market closed down 6 basis points today at 104.88 having closed 195 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.25%. Whether in New ...

Consumer confidence surged in September as the economy continued to improve while fears from the coronavirus eased. The Conference Board's Consumer Confidence Index surged to a post-pandemic high of 101.8 this month, above the 88.5 expected and far surpassing the 86.3 recorded in August. Lynn Fra...

Mortgage backed securities (MBS) market closed up 9 basis points today at 104.94 having closed 204 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.25%. Whether in New En...