| Dec 14, 2011 3:59PM Another strong Treasury auction, among other things, helped Mortgage Rates in lower again today. Although Best-Execution rates still haven't moved any lower (currently at all-time lows), the borrowing costs involved to obtain them are now at least as low as they were in late September, the last time we had 3.875% Best-Execution rates. Even though the response to yesterday's 10yr Note Auction sent most longer term interest rates steadily lower (lower rates are less enticing for investors bidding at... Dec 14, 2011 3:20PM At the beginning of the week, and even during the morning hours yesterday, prices of Fannie 3.5's (dominant production coupon for conforming 30yr loans), could still be thought of as being in their November range, albeit near the high side. But beginning with yesterday's 10yr auction, MBS were cordially invited to go on a tear higher in price with longer-date Treasuries. Even though they haven't been allowed to ride in the front seat (read: underperforming / wider spreads .... as is normally the...
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