Friday 3/20...Is the Day Over Yet?

Well, mortgage backed securities managed to move lower today in very light trading.  This has been pretty much standard over the last few months to have a sell off before the weekend.  Some lenders have repriced for the worse.  MBS are down about .25 in discount from when rates sheets came out. 

At the current price levels of mbs, we should have lower rates, so lenders have room to pass along better pricing if they chose to.  Like i have been saying the last couple days, lenders got slammed with locks so they are turning off the spigot by increasing rates.  Hopefully, we will have some lenders come out with some aggressive pricing next week. 

I will be back on Monday.  Hope everyone has a safe weekend!