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Mortgage rates dodged a bullet yesterday. As you know mortgage rates have basically mirrored the movements of the stock markets recently. As stocks rallied, loan pricing worsened and mortgage rates rose. As stocks sold, loan pricing improved and mortgage rates fell. This relationship has dictated the...
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Over the past few month I have been using a very well defined strategy to gauge lock/float opportunities. The idea is to lock when mortgage backed securities approach their recent range's price highs, and float when MBS are near the bottom of their recent price range. This "play the range"...