Mortgage Pricing Update: 1/18/2008
Posted by arscherer on January 18, 2008
The market ended slightly in the green yesterday, and is evening out today. We are still at all-time highs with regard to the Mortgage Backed Securities market which is definitely a positive. Here is what is going on today, though:
Currently, the 10-Year Treasury is down in price by approx 34 bps while the MBS is slightly down from yesterday’s ending price (approx 16 bps). That being said, here are the reports that are scheduled for release today:
- January’s Consumer Sentiment Index which has a mild impact on the overall market (but nothing to be too concerned about right now)
- December’s Index of Leading Economic Indicators (LEI) which will most likely not have any impact on the market today
This leads me to suggest a lock for today’s pricing. As always, I will look at the risk vs. reward theory. There is more risk involved with floating today’s pricing because we are at a great pricing stage right now. If you float and the market decides to correct itself Monday morning, you will have lost money and most likely a client. So, it’s my opinion to lock in your loans today!
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