The MBS market is still a few ticks off yesterdays 3pm levels (see chart), nonetheless the current bid should be viewed as an acceptable recovery

FN 5.0: +15/32 at 100-27

FN 5.5: +13/32 at 101-25

Chart is from 10 min ago...5.0 is 2 ticks higher from when I pulled chart.

Red is reprice zone for more aggressive lenders.

Yellow is mid morning rate sheet distributions.

Green is reprice zone for early morning price setters.