Jeff Jensen's Blog

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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 12 basis points today at 101.56 having closed 25 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...
07/26/2021
Home borrowing costs fell this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage fell ten basis points to 2.78% last week with 0.7 in points and fees. A year ago at this time, the rate was 3.01%. It is up from 2.65% on January 7 of this year. Sam...
07/22/2021
Mortgage backed securities closed up 19 basis points today at 101.66 having closed 26 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...
07/22/2021
Home borrowing costs were essentially unchanged last week and remain at historically low levels. The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage rose two basis points to 3.11% with 0.43 in points for the week ending July 16, 2021. The Market Composite Index, a measur...
07/21/2021
Mortgage backed securities closed down 34 basis points today at 101.44 having closed 49 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...
07/21/2021
Cash is king!? A large portion of homebuyers has paid cash at closing seeing percentages not seen in seven years. Redfin reports that cash buyers have made up 30% of total purchases in 2021, up from 25.3% for all of 2020. That is the highest percentage since 2014. One big factor has been the rece...
07/20/2021
Mortgage backed securities closed down 3 basis points today at 101.78 having closed 16 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 ...
07/20/2021
U.S. stock investors are looking for the exit signs in today's trading session due in part to COVID Delta fears coupled with plain old profit-taking. The Dow was down by 900 points at its lowest point after hitting a record high last week. Oil stocks are leading the drop after OPEC said it will b...
07/19/2021
Mortgage backed securities closed up 38 basis points today at 101.81 having closed 14 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...
07/19/2021
Consumer spending surprisingly rebounded in June signaling Americans continue to spend which is boosting the U.S. economy. Sales were brisk across the board with services leading the way. June Retail Sales rose 0.6% from May and well above the -0.4% expected. When stripping out autos, sales jumpe...
07/16/2021
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