Even before this morning's economic data, bond markets were already in slightly stronger territory.  The data itself only helped, though it's a double-edged sword for the Housing Market.  New Home Sales hit a 9 month low, falling to a 384k unit annual pace versus a 450k forecast and 449k previous reading. 

Treasuries and MBS ratcheted to their best levels of the day after the data, and extended gains further after the Fed's daily buying operation in 10yr Treasuries.  Fannie 4.0s were up as much as a quarter of a point, but the rally has moderated somewhat ahead of the 1pm Treasury Auction of 5yr Notes.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.0
97-02 : +0-10
FNMA 3.5
101-03 : +0-08
FNMA 4.0
104-10 : +0-06
Treasuries
2 YR
0.4378 : +0.0268
10 YR
2.6860 : -0.0400
30 YR
3.4759 : -0.0271
Pricing as of 4/23/14 12:07PMEST
Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:26AM  :  Bond Markets Improve After Ugly New Home Sales Data
8:58AM  :  Bond Markets Slightly Stronger as Conditions Normalize
Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Matt Hodges  :  "Nice and simple day ahead... news you need to know"
Ira Selwin  :  "Nice chart on the morning update MG"
Victor Burek  :  "if a person is buying a new home, but keeping old home as investment, does FHA have a reserve requirement? the home they are vacating has very little equity"
Jason York  :  "6 months on subject property and 6 months on current principal residence, if less than 30% equity"
Victor Burek  :  "I would think fha wouldn't require that"
Kent Mikkola, NMLS 353976  :  "no reserve requirement on fha"
Matthew Graham  :  "RTRS- US MARCH SINGLE-FAMILY HOME SALES 384,000 UNIT ANNUAL RATE, LOWEST SINCE JULY 2013 (CONS 450,000), VS FEB 449,000 UNIT RATE (PREV 440,000)"
Matthew Graham  :  "RTRS- US MARCH SINGLE-FAMILY HOME SALES -14.5 PCT, BIGGEST DROP SINCE JULY 2013, VS FEB -4.5 PCT (PREV -3.3 PCT)"
Matthew Graham  :  "RTRS- US MARCH NEW HOME SUPPLY 6.0 MONTHS' WORTH AT CURRENT PACE, HIGHEST SINCE OCT 2011, VS FEB 5.0 MONTHS"