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State Name: New Jersey
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State Abbreviation: NJ
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  • Mortgage Rates: Sharp Improvements

    by AQ on August 10 2011, 5:44 PM
    We experienced some wild price swings today but consumer borrowing costs improved in the end. In many cases those improvements were significant. CURRENT MARKET *: The BestExecution 30-year fixed mortgage rate is between 4.00 and 4.250%. More lenders are...
  • Mortgage Rates: Even More Nuts!

    by Matthew Graham on August 09 2011, 4:30 PM
    We've used the word "nuts" in the past to describe extra volatile movements in the mortgage market, but today takes the cake. Many market records were broken following today's Federal Reserve FOMC meeting. The net effect was positive for consumer borrowing...
  • Mortgage Rates: Regaining Some Ground

    by Matthew Graham on August 08 2011, 3:59 PM
    Last week the intense rally in bond markets helped mortgage rates reach their best levels of the year, but the rally came to an end on Friday. Then on Friday evening, news the S&P downgraded the US Sovereign Debt Rating set a chain of events in motion...
  • How Did Mortgage Rates React to Jobs Data?

    by AQ on August 05 2011, 2:57 PM
    To put it bluntly, not good... Home loan borrowing costs moved higher after a better than expected jobs report this morning. The one-week winning streak that led mortgage rates back into historically low territory came to an end as a result. While economic...
  • Mortgage Rates: The Return of Record Lows

    by AQ on August 04 2011, 4:28 PM
    The craziness continues... Mortgage rates and most things related to bonds have ventured back into record setting territory. Stock markets are at the tipping point of full blown panic and interest rates have been the main beneficiary. IMPROVED CURRENT...
  • Mortgage Rates: New 2011 Lows

    by Matthew Graham on August 03 2011, 2:23 PM
    Mortgage rates rallied again today and consumer borrowing costs drifted a little lower. Deciding whether or not to lock a loan between now and the "high-risk" event on Friday is pure speculation (Employment Situation Report). If you know how that's going...
  • Mortgage Rates: This is Nuts!

    by AQ on August 02 2011, 2:06 PM
    Mortgage rates rallied again today, extending their winning streak to four straight sessions. Positive progress has not been modest either. Improvements have been significant. A picture is worth a thousand words... In the chart of Consumer Rate Quotes...
  • Mortgage Rates: Path Paved

    by AQ on August 01 2011, 2:49 PM
    Mortgage rates improved last week amidst an atmosphere of major market uncertainty. It wasn't until Friday though, after exceedingly weak economic data, that consumer borrowing costs really rallied. This surprising positive development followed 10 straight...
  • Mortgage Rates: Debt Ceiling Decision Time

    by AQ on July 29 2011, 6:14 PM
    I have some unexpected good news Amidst an atmosphere of major market uncertainty, consumer borrowing costs improved significantly today. Enough to push BestExecution quotes a notch lower. In the chart of Consumer Rate Quotes below, if the line is moving...
  • Mortgage Rates: Anything Can Happen

    by Matthew Graham on July 28 2011, 3:57 PM
    The theme of volatility is ongoing. Loan pricing has moved in the opposite direction from the previous day for 6 sessions in a row now. The increases seen yesterday in home loan borrowing costs were erased today leaving things slightly worse than average...
  • Mortgage Rates: Take Cover

    by Matthew Graham on July 27 2011, 5:06 PM
    Although BestExecution quotes didn't change today, the borrowing costs associated with those rates rose enough to erase yesterday's improvements, plus more. Markets currently hang on every headline regarding the debt-ceiling debate (not exclusively, but...
  • Mortgage Rates: Directional Crapshoot

    by AQ on July 26 2011, 3:28 PM
    Home loan borrowing costs enjoyed modest improvements today. While these gains are encouraging, fear of the unknown has put lenders back on the defensive. This is generally not a favorable environment for rate watchers. The chance that our political leadership...
  • Mortgage Rates: Uncertainty Still Abundant

    by AQ on July 25 2011, 3:32 PM
    Home loan borrowing costs moved marginally higher last week. Fortunately these unfriendly developments did not negatively impact Current Market "BestExection* quotes. Fear of the unknown has put lenders back on the defensive though. This is generally...
  • Mortgage Rates: Slowly Creeping Higher

    by AQ on July 22 2011, 3:16 PM
    Home loan borrowing costs moved marginally higher this week. Fortunately these unfriendly developments did not negatively impact Current Market BestExection* quotes. Mortgage rates are still hovering just above their best levels of the year. Fear of the...
  • Mortgage Rates: Unfavorable Risks

    by Matthew Graham on July 21 2011, 4:19 PM
    Home loan borrowing costs increased today, basically to the high side of their recent "sideways" range. Lenders continue to price their loans from a defensive posture. These are generally unfavorable conditions for fencesitters. The market's "path of...
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More From MND

Mortgage Rates:
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  • 15 Yr FRM 3.26%
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  • Jumbo 30 Year Fixed 3.89%
MBS Prices:
  • 30YR FNMA 4.5 108-05 (0-04)
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  • 30YR FNMA 5.0 110-17 (0-03)
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  • 30YR FNMA 5.5 112-14 (0-06)
Recent Housing Data:
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  • Refinance Index -5.23%
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  • Purchase Index -4.14%