Another positive day

It was another strong day of trading today in the mortgage backed securities market. Moreover, we saw the ten year treasury yield fall back below 3.000% which is a very good indicator for our market's future.

Pricing right now is as good as it has ever been. For this reason I am very busy and do not have a whole lot of time to spend writing today. If you're happy with today's rate sheet, locking is not a bad idea so long as you will not be subject to extensions. If you have some time floating could led to better pricing.

There is support in our market right now... even if we hold at current levels, a 15 day lock will have better pricing than a 30 day... working towards this shorter lock period is an admirable goal. Just be prepared to lock at a moments notice. Firesales are nasty and can erode pricing faster than you can say "dummer."