November 15th Mortgage Market Wrap-up 7

At last!  Mortgage backed securities (MBS) finally stopped the bleeding today after four consecutive days of heavy losses.  MBS bonds closed up 41 basis points today at 100.56.  The bond can now be found below all the moving averages with the nearest being now just 236 basis points above.  The 30 year was at 4.00% today but with continued improvement may fall back into the 3s tomorrow.  Whether in New England, the Mid Atlantic or the Midwest or anywhere else in the U.S. history tells us it is time to refinance!!  Please call at 203-981-8282.