January 12th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed down 3 basis points today at 102.78 having been in positive territory most of the day.  MBS bonds tailed off at the end of the session and closed just 3 points below resistance offered by the 50 day moving average  The 30 year rate remained 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 203-981-828 2.