MBS riding 50-day Moving Average lower
Rates have ticked up in the past few days and those who have been following the charts were able to easily avoid the pain.
The yellow horizontal line stopped the rally in MBS and the 50- Day Moving Average is sliding lower, capping any advance.
It is reasonable to expect more of the same in the coming days...look at the purple dashed line. For that reason MLOs should continue to advise clients to lock.
BB