August 5th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed down a whopping 31 basis points today at 103.66 and having fallen through dual support offered by the 10 and 25 day moving averages.  A strong jobs report took the gusto out of MBS bonds in a hurry.  The 30 year conforming remained at 3.50% today for the best applicants. The refinance opportunity is still very much in play.  Whether in New York, New Jersey or Connecticut or anywhere else in the U.S. it is not too late to refinance!!  Please call at 203-981-9882.