December 13th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed flat today at 102.19 after opening up a gap of 12 basis points and came to rest 258 basis points below the 200 day moving average.   During the day the bond was up and down 19 basis points before landing squarely in the middle.  The 30 year was 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.