MBS LUNCH: Scattered Reprices Reported.

Look at the pretty mirror!

MBS prices are falling and TSY yields are higher. Or is it TSY yields are higher and MBS prices are lower?

The FN 4.0 is -0-29 at 97-19 and the FN 4.5 is -0-18 at 100-21. NEW LOWS OF THE DAY. Mortgage servicers selling as yield curve steepens. MBS yield spreads wider.

I have seen scattered reprices for the worse. Two from major lenders, one from a mid-sized regional. When the dominoes start to fall....

I am watching the market but I am not really too focused on it to be honest. More or less I have decided to use this time to catch up on a lengthy "to do" list of readings and writings.

MORE REPRICES FOR THE WORSE TO COME.

The 2s/10s spreads is in "call Guinness" territory at 280bps wide/steep.

The S&P is up 1.19%. Oil is down 1.14%. Gold is $21 cheaper at $1096...

Tomorrow promises to be busier!