If a family member asked my advice and they were scheduled to close on a mortgage purchase or refinance in the time periods indicated below, I would recommend...
1-7 Days 8-20 Days 21-45 Days 46 Days Plus Locking Floating Floating Floating
Bottom Line - The march in the green continues for MBS coupons as rates continue to improve. I'm putting a soft recommend for locking 1-7 days. However, keep a eye out for movement in the reverse direction as key economic reports are being released tomorrow. Pricing as of 10:14 am (EST) 30 Year FNMA MBS Coupons FNMA 4.5 98-30 +0-25 FNMA 5.0 101-04 +0-19 FNMA 5.5 102-20 +0-13 30 Year GNMA MBS Coupons GNMA 4.5 99-05 +0-25 GNMA 5.0 101-16 +0-20 GNMA 5.5 102-29 +0-12
For current MBS pricing, checkout the "MBS Price Data" chart in the far right column (underneath Subscription & Contact Links). Other excellent sites providing insightful market commentary:
A New Post By The Mortgage Cicerone.
A Guide for Mortgage Professionals.
Read other posts by The Mortgage Cicerone.
- Daily Market Commentary
- Robert Ashby - Mortgage Market Update
- MBS Commentary
- Daily Market Commentary- WesCorp
- Mortgage Rate Commentary - Moving.Com
- Weekly Economic Commentary - Dr. Raymond James
Important Note: These recommendations to lock or float constitute solely my opinion and are not represented nor should be taken as a guarantee of mortgage rate direction.
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