Friday 7/11/08 ... Consumer Sentiment In

Consumer Sentiment came in at 56.6, slightly improved over last month, but still very low historically.

If you already have rates for the morning, locking may be the safest bet for today.  Tons of volatility.  Prices are falling rapidly in the last few minutes in the 6.0's, however, 5.5's are doing much better.  Treasuries are getting hammered.  So are stocks.  The markets may be too distressed today to see significant gains for MBS.

Stay tuned.