After "sittin sideways" through the lunch hour...the rally as resumed. At this point we are expecting re-prices for the better, however in this brave new MBS world we are skeptical of lender's willingness/ability to participate in the "down in coupon" process. So while the intraday gains warrant better mortgage rates we will have to wait and see how investors adjust their rate sheets. Cross your fingers.
Fn 4.0-> +1-00+ to 101-03 (YES THE 4.0 IS TRADING IN THE 101 HANDLE)
Fn 4.5-> +0-29 to 102-13
Fn 5.0-> +0-23 to 103-06
Fn 5.5-> +0-23 to 103-16
Fn 6.0-> +0-15 to 103-27