January 30th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed down 3 basis points today at 102.00 having closed just 11 basis points below resistance offered by the 10 day moving average.  The 30 year rate was at 4.375% 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.