| Oct 3, 2011 4:04PM Bond markets rallied heavily today and Mortgage Rates continued to improve. Most of the gains were seen in the form of lower borrowing costs today, but some of you may see another eighth lower in rate. On average, rates are in line with all time lows. Today's Rates: BESTEXECUTION 30YR FIXED - Firmly 3.875%, Some 3.75% availability FHA/VA - still at 3.75% !! 15 YEAR FIXED - 3.375%, 3.25% getting closer to viable 5 YEAR ARMS - low to mid 3% range, variations from lender to lender. Ongoing Guidance... Oct 3, 2011 5:06PM A familiar scenario played out overnight and through the trading session. It goes like this: new information comes to light about the potential for a Greek default, and the result is a big stock sell-off and an even bigger Flight-to-Quality (FTQ) rally in Treasuries. Despite today being the first day of renewed Fed Buying efforts, MBS just can't keep pace with this level of demand for Treasuries. The technical level at 103-06 turned out to hold as resistance for a majority of the day. Of course the...
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