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July 10th Mortgage Market Wrap-up 5

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Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

Mortgage backed securities (MBS) closed up 19 basis points today at 102.59 having come within 3 basis points of resistance offered at the 102.72 level before falling away prior to the close.  A sell-off in stocks sent money tumbling in the fixed rate markets today allowing MBS bonds to further solidify the great pricing we have had of late.  The 30 year rate was closing in on 4.25% at the close.

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