Mortgage backed securities (MBS) closed down 16 basis points today at 102.81 Having come to rest 7 basis points below the 200 day moving average. The reason for the huge change is the pricing today is that we changed from the 3.50% coupon to the 4.00% coupon. The 30 year was available at 4.25% today. The 30 year jumbo was at 4.375%. 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.
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