Mortgage backed securities managed to end the recent decline and posted some nice gains yesterday. To remind readers, as MBS move higher in price mortgage rates move lower. Most lenders did reprice for the better as the rally held to close. It appears some bearish comments from Fed governor Dennis Lockhart and an opinion piece in the Wall Street Journal from Fed Chairman Ben Bernanke that the Federal Reserve is confident of its ability to stem inflation contributed to the rally in spite of the stock market posting another triple point gainer.
Rates Stabilize as We Await Mr. Bernanke
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