May 10th Mortgage Market Wrap-up 8

Mortgage backed securities (MBS) closed down 9 basis points (bps) today at 102.12 having fallen to 131 basis points below resistance offered by the 200 day moving average after the monthly rollover.  The 30 year conforming was clinging to 4.125% today while the 30 year jumbo was at 4.25%.  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.