The bond market was closed yesterday in observance of Columbus Day so mortgage backed securities did not trade. Regardless of that, several lenders issued rate sheets, however as is typical of holiday pricing strategies, rate sheets were conservative. Most lenders were offering 4.875% as the par rate for well qualified consumers. So far this morning, MBS prices are higher on the day which should allow lenders to issue more aggressive loan pricing (not as aggressive as last week).
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Mortgage Rates Higher. House Passes Tax Credit Extension for Military
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