Mortgage Week Wrap January 23, 2009

The first shortest, longest week of the New Year is over.

What an action packed week.

• New President
• A New Dennis Kozlowski

There was minimal economic news this week, which kept rates rather calm. Although Mortgage Rates and MBS were higher the majority of the week they started trending lower again Thursday, ending the week relatively unchanged (total loss .03125bp).  Looking at technical’s as discussed in Thursday’s post; support has kept MBS in a predictable trading range (see Chart for explanation). For those of you who social network on Twitter Caveat emptor all the Mortgage Pigeons squawking like chicken little about Mortgage Rates. If you need the real skinny on rates check my Real Time Mortgage Rate Pricing Engine.

Please take the time to enjoy the Tarp Song Video (under the chart).

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