No Locks Yet

If you haven't locked already, don't.

I know that those of you with access to bond pricing may be seeing negative numbers currently, and though they did bounce down for a moment, the live feed shows both 5.0 and 5.5 coupons holding steady at even on the day plus or minus 0-01.

Even though I advised to watch for 150 in the Dow, which it has now hit, the MBS market has not responded negatively.  

Stay tuned and stay floating, but please, check back here frequently for an update.  No update = keep floating.