Monday 7/7/08 ... Major rebound, but don't watch Treasuries

By: Matthew Graham • Mon, Jul 7 2008, 10:30 AM

More analysis and explanation to follow, but we have a major treasury rally underway and MBS have rebounded a little as well. Probably not enough to see reprices yet, but stay tuned. If you haven't locked yet and your lender priced at least .375 worse from Thursday, you are probably OK to float.