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State Name: New Jersey
State Name underscore: New_Jersey
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State Abbreviation: NJ
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  • 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...
  • Mortgage Rates: Path of Least Resistance

    by AQ on July 20 2011, 3:55 PM
    Home loan borrowing costs were basically unchanged today. Mortgage rate movements have gone sideways. Fear of the unknown has put lenders back in a defensive position. These are generally not favorable conditions for rate watchers. The "path of least...
  • Mortgage Rates: Lenders Hesitant

    by AQ on July 19 2011, 3:02 PM
    Home loan borrowing costs moved higher today. Fortunately these unfriendly developments did not negatively impact Current Market BestExection Mortgage Rates. CURRENT MARKET *: The "BestExecution" conventional 30-year fixed mortgage rate is still 4.625...
  • Mortgage Rates: Uncertainty Abundant Again

    by AQ on July 18 2011, 3:43 PM
    Mortgage rates spent most of last week in recovery mode after experiencing a sharp spike in late-June/early-July. Unfortunately just before the weekend the corrective rally stalled and positive progress came to a screeching halt, leaving hopeful rate...
  • Mortgage Rates: Risk of Floating on the Rise

    by Matthew Graham on July 14 2011, 3:38 PM
    Home loan borrowing costs had reached their best levels of the week as of yesterday afternoon, but were unable to improve further today. That leaves the Best-Execution rate decidedly unchanged and bumps costs back up closer to their mid-point of the week...
  • Mortgage Rates: BestEx on Edge

    by AQ on July 13 2011, 3:42 PM
    Home loan borrowing costs moved slightly lower today. This is the fourth consecutive day where borrowing costs have declined in the primary mortgage market. With this positive progress, we're now teetering on a shift lower in Best Execution* quotes.....
  • Mortgage Rates: Third Rally in a Row

    by Matthew Graham on July 12 2011, 4:05 PM
    The significant reversal in loan pricing that began after Friday's jobs report is starting to level off. On average, the costs charged by lenders on "Best Execution" rate quotes moved slightly lower today, although "Best Execution" rates themselves are...
  • Mortgage Rates: Better Here, Not Everywhere

    by AQ on July 11 2011, 5:11 PM
    The primary mortgage market has been a roller coaster ride lately. Best Execution* quotes have been all over the place. Just 10 sessions ago, after setting new year-to-date lows, home loan borrowing costs started shifting in an unfavorable direction....
  • How Did the Employment Report Impact Mortgage Rates?

    by AQ on July 08 2011, 3:07 PM
    Seven days ago mortgage rates were in a precarious position. Home loan borrowing costs had spiked and the lock/float environment was shifting in an unfavorable direction. That outlook carried over into this week but never really developed, instead we...
  • Mortgage Rates: High-Risk Event Tomorrow

    by Matthew Graham on July 07 2011, 3:49 PM
    Markets fired an early warning shot today, hinting at the high-risk nature of tomorrow's jobs data. Although the actual note rate you're being quoted may not have changed, the closing costs involved with obtaining that rate may be significantly higher...
  • Mortgage Rates: Understanding the Risks

    by Matthew Graham on July 06 2011, 2:48 PM
    Today brought a second day of mild recovery for mortgage rates. Last week, the Current Market Best-Execution mortgage rate rose somewhat abruptly after repeatedly failing to improve ( READ MORE ). Although today's improvements don't bring the Best-Ex...
  • Mortgage Rates: High-Risk Event on Friday

    by AQ on July 05 2011, 3:55 PM
    After failing on repeated occasions to extend a two-month rally, mortgage rates took the path of least resistance last week: UP. The BestEx levee burst and the mortgage rates rose... CURRENT MARKET *: The "Best Execution" conventional 30-year fixed mortgage...
  • Mortgage Rates: Decision Time Again

    by AQ on July 01 2011, 12:53 PM
    After failing on repeated occasions to extend a two-month rally, mortgage rates took the path of least resistance this week: UP The BestEx levee burst . In the chart of Consumer Rate Quotes below, if the line is moving up, closing costs are rising. If...
  • Mortgage Rates: Risking Another Move Higher

    by Matthew Graham on June 30 2011, 3:58 PM
    Volatility attacked on Tuesday and attacked again today. For the second time this week, home loan borrowing costs have risen about as much as they can without negatively impacting the CURRENT MARKET Best Execution Mortgage Rates. The abrupt jump in cost...
  • Mortgage Rates: BestEx Levee Bursts

    by AQ on June 29 2011, 3:45 PM
    Volatility attacks! Home loan borrowing costs rose about as much as they could yesterday without having it negatively impact CURRENT MARKET Best Execution Mortgage Rate quotes. Unfortunately borrowing costs rose further today. And the levee burst.......
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