Mortgage backed securities (MBS) closed up 31 basis points today at 102.59 coming to rest 226 basis points below the 200 day moving average. The bond which was up 47 points during the day, made back 60% of yesterday's loss. The 30 year was back at 4.125% today. If you have a rate of 5% or more it is still not too late to refinance; especially for those jumbo loans. 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.
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