August 30th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed down 9 basis points today at 103.72 having remained above the 10 and 50 day moving averages and come to rest squarely on the 25 day.  We are still hoping for improved pricing in the weeks to come.  The 30 year conforming was once again solidly at 3.50% today for the best applicants who were able to lock today.  Whether in Kentucky,  Tennessee or Georgia or anywhere else in the U.S. history tells us it is time to refinance!!  Please call at 203-981-8282.