Monday 7/7/08 ... Leveling off and Ginnie keeps rockin'

By: Matthew Graham • Mon, Jul 7 2008, 11:05 AM

Fannie and Freddie MBS are closer now. Despite the lowest stock prices in over 10 years, both FNMA and FHLMC have rebounded, and reprices for the better are potential.

GNMA MBS are actually nicely improved day over day. You are looking for .125 to .25 improvement in YSP on Government deals before the reprices are baked into cake.