August 29th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed up 31 basis points today at 103.81 having climbed back above the 10, 25  and 50 day moving averages.  We are still hoping for improved pricing in the weeks to come.  The 30 year conforming was once again solidly at 3.50% 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