The market showed wild fluctations toward the end of the day yesterday. At one point the market was up favorably (good for mortgage rates) only to come back the other way sharply. This mornings trading shows mortgage bonds losing some ground as rates ticked closer to 5.875% for a 30 year fixed with a borrower who is paying all cost, good credit, escrows, etc.
The market continues to show volatility. I will continue to update the blog to give you an update on market conditions. We are working thru a large backlog of calls and e-mails. I appreciate your patience and understanding as we do our best to contact all of our clients as soon as possible.
Have a great and prosperous day. Feel free to call us with any questions or concerns.
