Jeff Jensen's Blog

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Mortgage and Lending - The Federal Savings Bank/Lending in 50 states - NMLS # 109616
RECENT BLOG POSTS
 U.S. job growth surged in February with big gains seen in the ailing leisure and hospitality sectors of the economy. The Labor Department reports that Non-Farm Payrolls rose by 379,000 in February up from 166,000 in January which was revised from 49,000. This was well above expectations of 200,0...
03/05/2021
Mortgage backed securities closed up 28 basis points today at 100.69 having closed 218 points below the 200 day moving average. The conforming rate is at 2.50% 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 ...
03/05/2021
 Inflation data for January was inline with estimates though pockets of prices have surged. For instance, lumber prices have soared over the past year which is or will be added the price of a new home. The price for lumber hit $1,000 recently up from $264 on April 2, 2020. The NAHB is urging Cong...
02/26/2021
 Home borrowing costs continued to rise this week but remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 2.97% from 2.81% with 0.6 in points and fees. A year ago at this time, the rate averaged 3.49%. Sam Khater, Freddie Mac’s Chief Economist, said...
02/25/2021
Mortgage backed securities closed down 116 basis points today at 99.88 having closed 302 points below the 200 day moving average. The conforming rate is at 2.50% 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 th...
02/25/2021
The House of Representatives is expected to vote on the $1.9T stimulus relief plan this week and will most likely get passed without GOP support. Huge government spending continues to impact the bond markets negatively way as rates have inched higher in the past month. The bill includes $1,400 di...
02/22/2021
Mortgage backed securities closed down 44 basis points today at 101.25 having closed 167 points below the 200 day moving average. The conforming rate is at 2.50% 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 th...
02/22/2021
 The National Association of REALTORS reports that Existing Homes Sales rose 0.6% in January from December to an annual rate of 6,690,000 annualized units. Sales were up nearly 24% from a year ago. Gains were seen in the Midwest and South, with declines in the Northeast and West. The median exist...
02/19/2021
Mortgage backed securities closed down 28 basis points today at 101.66 having closed 126 points below the 200 day moving average. The conforming rate is at 2.50% 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 th...
02/19/2021
 Home borrowing costs inched higher this week and remain at historically low levels. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 2.81% from 2.73% with 0.7 in points and fees. A year ago at this time, the rate averaged 3.49%. Sam Khater, Freddie Mac’s Chief Economist, said, “R...
02/18/2021
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