Although "rate sheet influential" MBS coupons are off intra day price highs, we are seeing reprices for the better. If you're floating in the short term, wait a bit longer as you should pick up between .125 and .375 bps after rates are republished.

The FN 4.0 is +0-09 at 98-12 yielding 4.157% and the FN 4.5 is +0-09 at 101-07 yielding 4.369%. The secondary market current coupon is 4.295%. The current coupon yield is 69.3 bps higher than the 10 year TSY note yield and 61.2 bps over the 10 yr swap rate.