May 8th Mortgage Market Wrap-up 8

Mortgage backed securities (MBS) closed down 9 basis points (bps) today at 102.50 having fallen to 97 basis points below resistance offered by the 200 day moving average.  The 30 year conforming remained at 4.125% today while the 30 year jumbo was also at 4.125%.  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 me at 203-981-8282.7