Mortgage backed secuirites (MBS) closed down 9 basis points today at 104.28 having come to rest just 3 basis points above the former highest of all time level of support. Despite the fact that stocks really did not do much today and that the auction of 2 year notes garnered an "A" rating, the recent downward movement and the grossly overbought stochastics kept MBS bonds in check today. Be careful when discussing what rates are as many of the averages quoted by the media include points or partial points. A forty day lock on a 30 year fixed rate was available at 3.875% today.
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home
Good Evening Jeff
Thanks for the post and mortgage update. Have a great day
May 22, 2012 07:11 AM
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