MBS Bleeding Stopped. Gotta Start Somewhere!

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Posted To: MBS Commentary

Phew. We made it through yesterday afternoon. And then we made it all the way through today! Rally intact!! Additional gains secured!!! Reprices for the better awarded!!!! REPEATEDLY !!!!! IT FEELS GREAT TO GO INTO THE WEEKEND ON A HIGH NOTE DOESN'T IT? Oh wait. wait. wait.wait.... I misspoke. Not a high note. But close to one! I circled the weekly high. It was on Monday. That feels like forever ago to me though. Oh. That's probably because parnertia pulled the FNCL 4.5 underwater yesterday morning and the best execution 30 year fixed mortgage rate touched 5.25%. Ugghghghhh....gives me the heebie jeebies just thinking about how fast we went from 4.00% to 5.25%. Don't ever ever forget this experience. Loan pricing CLEARLY worsens much faster than it improves.... Remember this post: Bargain Buyers...(read more)

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Source: www.mortgagenewsdaily.com

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