Jeff Jensen's Blog

Mortgage backed securities (MBS) market closed down 59 basis points today at 103.84 having closed 415 points above support offered by the 200 day moving average. The conforming rate is at 3.125% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New...

The broad shutdown of businesses, due to the virus, across the country is slowing growth and like Fed Chair Powell said yesterday, the U.S. could be in a recession now. However, Mr. Powell went on to say that there could be a 'good rebound on the other side of this' and 'there is nothing fundamen...

Mortgage backed securities (MBS) market closed up 75 basis points today at 104.44 having closed 479 points above support offered by the 200 day moving average. The conforming rate is at 3.125% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New E...

Due to the recently added liquidity actions by the New York Federal Reserve, the mortgage markets have stabilized a bit after several weeks of depressed prices for mortgage-backed securities. Mortgage rates edged lower with the 30-year fixed-rate mortgage declining to 3.50% this week from 3.65% l...

Mortgage backed securities (MBS) market closed up 50 basis points today at 103.69 having closed 307 points above support offered by the 200 day moving average. The conforming rate is at 3.125% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New E...

Mortgage rates edged higher for the second week in a row due in part to increased secondary market volatility, lenders coping with volume issues and backlogs in their pipelines, and remote work staffing challenges, reports the Mortgage Bankers Association (MBA). The 30-year fixed-rate mortgage ro...

Mortgage backed securities (MBS) market closed down 12 basis points today at 103.19 having closed 258 points above support offered by the 200 day moving average. The conforming rate is at 3.125% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New...

This morning the Federal Reserve announced it is now committed to "UNLIMITED Quantitative Easing" as it will purchase unlimited amounts of Treasury and Mortgage-Backed Securities, and purchase corporate and municipal debt for the first time, in a historic effort to battle the economic fallout and...

Mortgage backed securities (MBS) market closed up 62 basis points today at 102.34 having closed 278 points above support offered by the 200 day moving average. The conforming rate is at 3.125% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New E...

The National Association of REALTORS reports that Existing Home Sales rose 6.5% in February from January and was the strongest reading since February 2007. Sales rose 7.2% from a year ago. The median price was $272,100, up 8% from February 2019. Inventories are at a low 3.1 months, well below 6 m...