February 27th Mortgage Market Wrap-up 8

Mortgage backed securities (MBS) closed down 31 basis points today at 102.478 having lost every single bit of last Friday's advance.  At one point during the session the bond was down 47 points. The 30 year rate remained at  4.125% today for both conforming and jumbo loans. 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.