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Mortgage and Lending - The Federal Savings Bank/Lending in 50 states - NMLS # 109616
RECENT BLOG POSTS
Mortgage backed securities closed down 38 basis points today at 101.38 having closed 47 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 2,875%. Whether in New England, the Mid Atlantic or the...
08/06/2021
CoreLogic reports that home prices nationwide, including distressed sales, rose 17.2% in June 2021 compared with June 2020, up month over month by 2.3% in June 2021 compared with May 2021. Prices continue to rise due to high demand and low inventories. "With plenty of cash on the sidelines, along...
08/03/2021
Mortgage backed securities closed up 19 basis points today at 102.19 having closed 32 points above 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 2,875%. Whether in New England, the Mid Atlantic or the M...
08/03/2021
Manufacturing activity eased in July from June but has increased now for the fourteenth consecutive months. The ISM Index fell to 59.5 last month from the June reading of 60.6. A reading above 50 indicates that the manufacturing economy is generally expanding; below 50 indicates that it is genera...
08/02/2021
Mortgage backed securities closed up 19 basis points today at 102.19 having closed 32 points above 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 3.125%. Whether in New England, the Mid Atlantic or the M...
08/02/2021
Inflation woes were allayed a bit this morning when a key gauge was better than feared. The June Core PCE grew 0.4%, slower than the 0.5% rise in May and below the gain of 0.6% expected. The annual Core PCE increased 3.5% from 3.4%. The Core PCE measures prices paid by consumers for goods and ser...
07/30/2021
Mortgage backed securities closed up 6 basis points today at 102.00 having closed 12 points above 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 3.125%. Whether in New England, the Mid Atlantic or the Mi...
07/30/2021
Home borrowing costs were essentially unchanged this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose two basis points to 2.80% last week with 0.7 in points and fees. It is up from 2.65% on January 7 of this year. The Fed signaled on Wednes...
07/29/2021
Mortgage backed securities closed down 7 basis points today at 101.81 having closed 7 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 3.125%. Whether in New England, the Mid Atlantic or the M...
07/29/2021
Rising material and labor costs weighed on new home sales last month as the sector has seen some slowdown in the past few months. June New Home Sales fell 6.6% in June from May to an annual rate of 676,000 units versus the 800,000 expected. Sales plunged in the Northeast, fell in the West and Sou...
07/26/2021
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