Today was a fine day for bond markets.  There were no significant gains or losses by the closing bell, and indeed no real drama in between.  Treasuries began the overnight session in slightly stronger territory and began losing ground after European markets bottomed out (stock prices and bond yields) just before 7am. 

Negative momentum persisted into the domestic trading hours and initially got a push from stronger-than-expected CPI data.  With stocks and oil beginning to decline a mere 10 minutes later, bonds weren't keen to continue losing ground (thus making the CPI-related weakness look more like a cover for other trading motivations).  8:45am began the consolidation that would set the range for the rest of the day.  In a general sense, markets punted when it came to deciding on the next strong move.

MBS experienced enough volatility for a few positive and negative reprices.  Despite Fannie 3.0s ending the day 2 ticks weaker, lenders had enough margin in place after yesterday's volatility for today's rates to be slightly lower on average.  

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
102-17 : +0-02
Treasuries
10 YR
1.7430 : -0.0170
Pricing as of 2/19/16 5:23PMEST
Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
12:04PM  :  ALERT ISSUED: On The Edge of Negative Reprice Risk For a Few Lenders
8:36AM  :  ALERT ISSUED: First Move is Negative After CPI Data
MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Caroline Roy  :  "you refi'ing your own house?"
Ted Rood  :  "Especially when client is a senior, and somewhat less than serene."
Ted Rood  :  "Don't you love it when the least challenging loan you have going (same servicer FHA stream) becomes an urgent concern because the CD hasn't made it out yet?"
Matthew Graham  :  "became?"
Michael Dormer  :  "I'd love it if that became a thing."
Curt Sandfort  :  "make it rain MG"
Matthew Graham  :  "no need. got stockpiles. loading up the helicopter now."
Curt Sandfort  :  "who else is photoshopping MG onto a dollar bill right now?"
Michael Dormer  :  "And a justifiable war at that. I bet 10 Graham-Bucks (MBS Live currency?) that some processor/funder at your company gave the title folks bad intel."
Davidson Trisler  :  "Im glad you all see it the same way I do. Now I feel better about the war Im about to get in to."
Michael Dormer  :  "Husband never on title. Husband is now ex-husband. He has no business in this transaction."
Andrew Russell  :  "trick question?"
Davidson Trisler  :  "nope"
Andrew Russell  :  "You said he isnt on title, is he?"
Davidson Trisler  :  "My title company is telling me that he must be at closing to sign himself off the deed."
Michael Dormer  :  "Wait, what? They divorced. Why would he need to sign anything?"
Davidson Trisler  :  "I have a borrower that bought a house as married woman. Her husband isn't on the mortgage or title. They finished their divorce last year and he left the country. She has no idea how to get in touch with him and Im being told he has to be at closing to sign the deed otherwise we cant close. Any Ideas?"
Ira Selwin  :  "Dan, investment properties are only exempt from qm/atr if they are for business purposes. So exceeding the 1.5 does make it rebut presumption"
Dan Clifton  :  "Does APR/APOR rate spread apply for NOO? I didn’t think it did, but my system is giving me a warning that I fail safe harbor for allowable rate spread"
Ted Rood  :  "I'd sure think so, JB"
Justin Bayle  :  "FHA streamline experts in the room...does the prorated UFMIP refund go on the initial LE?"