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October 27, 2011

Lots of Red on MBS Today, Rates Up

October 27, 2011

Lots of Red on MBS Today, Rates Up

MBS snapshot 11:44am ET, mortgages selling post Europe announcement, rates up. More later.

UPDATE 3:02 pm ET: The FNMA 3.5 coupon most lenders use to price consumer rate sheets is now down 78 basis points (much lower than snapshot above), and rates are up about .25%. Here’s a recap of today’s market movement, and whether this rate spike will correct.
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MBS Snapshot Source:
MBS LIVE from MortgageNewsDaily