It appears that things are settling down in the MBS market today, after an unprecedented day yesterday where rates improved by close to .50%. There are no big economic reports to be released today other then pending new home sales which is generally not a big market mover but will give us a reading on the housing market.

As i type this update we are starting to see a sell off. This could be a temporary sell off but from the highes of today we are down almost .25 in discount. So locking makes sense but if you have time, floating can still pay off. You need to weigh you risk tolerence. We like to say it is always better to lock when you should have floated, then to float your rate when you should have locked. We will keep you posted as it warrants so stay tuned to the blog.