February 13th Mortgage Market Wrap-up 8

Mortgage backed securities (MBS) closed down another 12 basis points today at 102.19 after having opened down a gap this morning and fallen through the 10 and 25 day moving averages. The 30 year rate was 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 203-981-82829