February 14th Mortgage Market Wrap-up 8

Mortgage backed securities (MBS) closed down another 16 basis points today at 102.03 after having fallen through support offered by the 50 day moving average. 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 203-981-828203