IRS Posts Video on Tax Benefits of Government Stimulus
It was a bumpy ride in the mortgage backed security market yesterday. At the open, MBS moved considerably higher and lenders that issued rate sheets at 9am, passed along considerable improvements from the prior day; however, the gains did not last long. Most lenders issue rate sheets around 10am eastern and by that time, MBS had given back all of the early morning gains which lead to the lenders that issued rate sheets early to reprice for the worse. As the day progressed though, MBS did manage to move higher and by the close many lenders repriced for the better. All in all, mortgage rates held steady on the day.
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