Lock at the Price Highs, Float at the Price Lows
Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the better from lenders, however because the rally has carried over into today, mortgage rates are better this morning! After touching 5 month lows before moving higher last week, mortgage rates are almost as aggressive as they were two weeks ago. If you have been floating your rate, you can secure better terms today…take advantage of the gains. I go back to the saying, lock at the MBS price highs, float at the MBS price lows.
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