August 26th Mortgage Market Warp-up 7

Mortgage backed securities (MBS) closed down 22 basis points today at 103.47 having fallen below 10,25  and 50 day moving averages and closed 15 points below the 50 day.  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 who were able to lock today.  Whether in Rowayton,  Tokeneke or Belle Haven or anywhere else in the U.S. history tells us it is time to refinance!!  Please call at 203-981-8282.