August 25th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed down 3 basis points today at 103.69 having remained above the 10 and 50 day moving averages and landed right on the 25 day mvoing average.  WE are still hoping for improved pricing in the weeks to come.  The 30 year conforming was solidly at 3.50% again today for the best applicants.  Whether in Philadelpia,  Pittsburgh or Pompton Lakes or anywhere else in the U.S. history tells us it is time to refinance!!  Please call at 203-981-8282.