Mortgage Prices are Worsening

Volatility has jumped as sellers press the market lower.  Could be hedging for tomorrow’s 30 year bond auction or just a distribution trade for the new issue 10’s but nonetheless, prices are worsening.  Current 10 year notes are now off 20/32’s and MBS down 9/32’s.  We’ll need to see the 21 day MA hold.  Currently, the battle is being fought (bulls and bears) right at that level.  Hang in there.

About Max Leaman Austin Mortgage

GREAT RATES, LOW FEES, CLOSE ON TIME™ ---- 2012 Ranked #1 Austin Residential Mortgage Lender (Austin Business Journal) 2010, 2011 & 2012 Five Star Professional (Texas Monthly) 2009, 2010, 2011, 2012, 2013 PrimeLending Chairman's Circle Award 2009, 2010, 2011, 2012 Scotsman Guide Top Originator (Top 200 Mortgage Professionals in U.S.A.) Better Business Bureau "A+ Rating" National Lender Rankings (Scotsman Guide): Top Purchase Volume (No. 10) Most Loans Closed (No. 32) Top Dollar Volume (No. 88)

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