Jeff Jensen's Blog

The National Association of REALTORS reports that Existing Home Sales fell 5.9% in July from June to an annual rate of 4.81 million units versus the 4.89 million expected. It was the sixth straight monthly decline and sales were down a whopping 20.2% from July 2021. Sales fell in all four major r...

Mortgage backed securities were up 3 basis points today at 100.66 having closed 311 points below the 200 day moving average. The conforming rate is at 5.50% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.875% with no points!. Whether in New England, the Mid At...

The Fed minutes from the July meeting will be released at 2:00 p.m. ET this afternoon. There is speculation and fear the Fed discussed outright sales of Mortgage Backed Securities as they do not want them on their balance sheet. The Fed is set to shrink the balance sheet by $95B a month come Sept...

Mortgage backed securities were down 38 basis points today at 100.62 having closed 319 points below the 200 day moving average. The conforming rate is at 5.50% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.875% with no points!. Whether in New England, the Mid...

Construction on privately owned residential homes fell hard in July to the lowest reading since February 2021. July Housing Starts fell nearly 10% from July to an annual rate of 1.446 million units versus 1.540 million expected. Sales were down 18.4% from July 2021. Single-family starts fell 10.1...

Mortgage backed securities were down 15 basis points today at 101.00 having closed 285 points below the 200 day moving average. The conforming rate is at 5.50% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.875% with no points!. Whether in New England, the Mid...

Fannie Mae reports that consumer sentiment toward housing is at the lowest level in a decade. The Fannie Mae Home Purchase Sentiment Index dell 2.0 points in July to 62.8, its lowest level since 2011 and well below the all-time high set in 2019. Surveyed consumers continue to express pessimism ab...

Mortgage backed securities were up 31 basis points today at 101.19 having closed 287 points below the 200 day moving average. The conforming rate is at 5.50% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.875% with no points!. Whether in New England, the Mid A...

Home borrowing costs fell this week and seem to be stabilizing after the surge in borrowing costs in the past 12 months. Freddie Mac reports that the 30-year fixed-rate mortgage fell to 4.99% from 5.30% last week with an average of 0.8 in points and fees. A year ago the rate was 2.77%. The 15-yea...

Mortgage backed securities were up 22basis points today at 101.66 having closed 247 points below the 200 day moving average. The conforming rate is at 5.50% today.  My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 4.875% with no points!. Whether in New England, the Mid At...