MBS Live: MBS RECAP
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FNMA 3.5
101-23 : +0-23
FNMA 4.0
103-30 : +0-15
FNMA 4.5
105-23 : +0-09
FNMA 5.0
107-17 : +0-04
GNMA 3.5
103-25 : +0-29
GNMA 4.0
106-22 : +0-19
GNMA 4.5
108-21 : +0-11
GNMA 5.0
109-28 : +0-06
FHLMC 3.5
101-17 : +0-23
FHLMC 4.0
103-26 : +0-17
FHLMC 4.5
105-14 : +0-09
FHLMC 5.0
107-09 : +0-05
Pricing as of 4:02 PM EST
Afternoon Market Updates
A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard.
12:02PM  :  ALERT: Several Price Improvements, But Exceptions Vs Rules Unless Rally Resumes
We've seen 2 reprices for the better so far this morning, but notably, those came from the 2 lenders that reprice algorithmically as soon as MBS hit certain levels. That level seems to have been 101-20 (and quite a nice level it is! The best since 10/7), but the early repricers will only have each-others' company unless MBS can sustain current levels (Fannie 3.5 at 101-19) for a bit longer.

Even so, the only reason this analysis should matter to you is if you're locking something today and notice that one of two things are happening before receiving a reprice for the better:

1. prices fall below 101-12 in Fannie 3.5's
2. you have reason to believe based on instinct or discussion in the dashboard chat that the lender in question could be getting enough lock volume for a pipeline-control reprice for the worse.

Failing those two things, it is possible that a few other lenders could offer a reprice for the better if prices stay high and stable.
Featured Market Discussion
A recap of the featured comments from the Live Discussion on the MBS Live Dashboard.
Kent Mikkola #353976  :  "REPRICE: 3:50 PM - Sierra Pacific Better"
Matthew Graham  :  "any lender you're seeing with aggressive pricing, a history of pipeline-control reprices, that seems to be "busy" today, or if you have any other reason to suspect high lock volume at a certain lender, it's an ongoing risk (especially considering that many of us are probably eager to lock after the ghost of MBS future showed us what life could be like after the EU Summit...)"
BVG  :  "pipeline mgmt most likely"
John Toepfer  :  "Wow, Interbank wiped out 75bps in their 3rd reprice...in a strong and improving market! what gives?!!"
Victor Burek  :  "REPRICE: 2:03 PM - Nexbank Better"
Kent Mikkola #353976  :  "REPRICE: 1:31 PM - Flagstar Better"
Kent Mikkola #353976  :  "REPRICE: 1:25 PM - Interbank Better"
Eric Franson  :  "REPRICE: 1:21 PM - Wells Fargo Better"
Kent Mikkola #353976  :  "REPRICE: 11:46 AM - Franklin American Better"
Matthew Graham  :  "hard to go much higher in MBS price without 10's recommitting to 2.1's and 5's making a run for 1.0. 3.5's may hunt and peck at slightly higher prices but 102-00 seems out of the question until/unless the aforementioned benchmarks do their respective things. variables in this equation playing out might not fully develop until Wed FOMC and even Friday NFP. Always a caveat for unexpected headlines though. "
Andy Pada  :  "excuse the bluntness, but we have spotty electricity and internet, but where do we go from here?"
Rob Clark  :  "REPRICE: 11:38 AM - Provident Funding Better"