The stock market is getting hammered this morning by a much weaker than expected durable goods number. Mortgage Backed Securities and Mortgage Rates though are capped and have been for a while due to overhead resistance, those red lines at top of the graph. Since the MBS are having a tough time breaking through this dual layer of resistance there is more risk of rates rising than actually falling right now. As always I’ll keep you posted, but it makes sense to lock in at these historically low mortgage rates.
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