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Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the better from lenders, however because the rally has carried over into today, mortgage rates are better this morning! This morning we got a read on the...
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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...