Benchmark Treasury prices and mortgage-backed security prices rallied yesterday. AQ described the inner dynamics of the trade strategy that led to rate improvements READ MORE. In terms of the headline news catalyst for the rally in bond markets, some fixed income friendly verbiage from Federal Reserve Chairman Ben Bernanke gave us a boost late yesterday morning. Reports from fellow mortgage professionals indicate the par 30 year conventional rate mortgage is holding in the 4.625% to 4.875% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee.
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