When looking for the best Texas mortgage rates , its very important to work with someone who follows the bond and MBS (Mortgage Backed Securities) markets. Now all this may sound like mumbo jumbo, so contact us if you need an easier clarification, however, basically from here on out, I will try to give out a quick daily/weekly update on what’s going on with rates in respect to both markets and whether you should lock or float.
Here’s what’s going on today:
Today’s 4.5 FNMA bond opened up at 2.0625, and currently we are testing the second level of resistance and are up about 6 basis points (bps). Rates are REALLY REALLY good right now, and if you have a refi or purchase transaction going on, I would suggest locking in today and NOT risking “a better deal”. Based on the 200 day moving average (200 DMA), it looks like rates will most likely be going up soon. As for how much, there’s no telling- which is why I am advising all transactions to be locked and loaded now.
Best,
Tommy
