Yesterday mortgage backed securities (MBS) managed to close slightly higher on the day which has helped lower borrowing costs a few basis points today. This should keep par 30 year fixed rate mortgages in a tight range between 4.5% to 4.75% depending on the lender's position within the mortgage supply chain. Lenders needing more volume will price a little more aggressively while lenders with overflowing pipelines will price a little higher. For consumers looking for 15 year mortgages expect to

Yesterday, mortgage backed securities managed to close up on the day by almost a .25 in discount. So far this morning, MBS prices are continuing to climb higher so we should see borrowing cost improve by an .125 to .25. This should keep par 30 year fixed rate mortgages in the 4.625% to 4.875% range while some more aggressive lenders will offer incentives for more pristine loan files. Most of these incentives require credit scores over 750 and loan to values under 70%. This morning the Commerce Department

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Currently mortgage backed securities are down about .125 in discount on the day. MBS managed to move higher before the 5 year treasury auction. The auction didn't go so well and immediately treasuries sold off resulting in higher treasury yields which caused MBS to give up their gains on the day. There were reports of a lender or 2 repricing for the worse. Tomorrow there is another treasury auction, the 7 year Treasury notes. Hopefully it's recieved better than the one today. If results of

Yesterday was a pretty uneventful day for mortgage backed securities. They traded in a pretty tight range closing about the same level they opened. So far this morning, MBS have moved lower by about a .125 in discount. We should see par 30 year conventional rate mortgages anywhere from 4.625% to 4.875% depending on the lender. To get a par interest rate, you would have to have 740 credit scores, pay all closing costs and 1 point loan origination or broker fee. Interest rates are like anything else

After the huge rally we had Wednesday following the Fed announcement of more mortgage backed security buying(MBS) and the start of buying of longer term treasuries, MBS have given back some of the gains over the last couple days of the week. Lenders came out with real aggressive pricing on Thursday which lead to many consumers locking their loans. With the huge influx of locks, lenders to control pipelines started to reprice for the worse much more than the price decline in mortgage backed securities

Yesterday mortgage backed securities gave back some of the gains we enjoyed on Wednesday. Most lenders repriced for the worse yesterday, with some taking away almost a full point in discount. Lenders rate sheets yesterday were all over the place, with the most aggressive lenders coming out at 4.5% par and others as high as 4.875% par. After the reprices, par rates increased by about .125%. So far this morning it appears that the selling pressure on mbs will continue. Hopefully all floaters took advantage

Yesterday, mortgage backed securities had quite a day improving by over 100 basis points. Most lenders repriced for the better but held back some of the improvements. We should see par 30 year fixed rate mortgages anywhere from 4.5% to 4.75% this morning, assuming lenders pass along the gains. So far this morning, mbs are unchanged from where they closed yesterday. The reason for the rally was the FOMC statement that was released at 2:15 est. In the statement, the Fed announced that they will continue