Thursday 3/5...MBS Move Higher

Thought i would give a quick update, mbs have continued to move higher in price which has resulted in most lenders repricing for the better.  It appears the huge sell off in the stock market is creating a flight to safety where investors sell stocks and move money into fixed income.  The 10 yr treasury continues its move lower and is now at a yield of 2.82 from a high yield today of 3.01.

After the reprices today, there are a couple lenders offering 4.75% for a 30 yr fixed rate at par.  We cannot confirm this but we are hoping that the new refinance program that i spoke of earlier is causing investors to move down in coupon which will help mortgage rates to move lower.  Hopefully this trend will continue and as always we will keep you posted.