May 23rd Mortgage Market Wrap-up 8

Mortgage backed securities (MBS) closed down 12 basis points (bps) today at 102.84 having fallen to 46 basis points below resistance offered by the 200 day moving average.  The 30 year conforming remained 4.00% today while the 30 year jumbo was available at 4.125% today.  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.