Rates Improving

First let me begin this post by apologizing for my absence yesterday. I had surgury on my left wrist so typing was a little much, but I'm back and wanted to break the news. Rates are and will be improving throughout the day today with the MBS market currently trading up 7 ticks.

This is probably due to the fact that the 10 year treasury yield has fallen to recent lows. Should this hold, we will be in excellent position for Mondays open.

If you are looking to close on a home loan in the coming weeks and are currently floating your interest rate, you might want to consider locking. With better reprices due, and us coming off of recent highs earlier in the week, these gains help reinforce what we saw earlier in the week, so although we have had to make up a little ground lost on Wednesday, offered rates will probably be the best they've been all week.

If you have particular questions about locking please post 'em here.