It was a bumpy ride in the secondary mortgage market yesterday. At the open, MBS prices moved considerably higher, however, the gains did not last long. Most lenders issue rate sheets around 10am eastern and by that time, MBS had given back all of the early morning gains. This forced several lenders...
Recap of Yesterday Choppy rates session. FN 4.5 trades in 19 tick range...forcing us to issue two ALERTS. Mortgage Rates still holding at or below 5.00% (well qualified borrowers only) FN 4.5 +0-03 at 3pm marks. FN 4.5 -0-02 at 5pm. Current Coupon 4.39% at 3pm, 4.41% at 5pm. Yield spreads tighter vs...