January 20th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed up 9 basis points today at 102.03 having Broken through the 25 day moving average during the session before closing just 2 points below it. The 30 year rate remained at 4.25% 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.