Rates Market Off to Slow Start. MBS Recovering from Friday Afternoon Weakness
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The December FNCL 3.5 is trading +0-08 at 101-03. Trading flows are thin ahead of the 3 year note auction and FOMC minutes but rates are recovering from the Friday afternoon retracement....
Loan pricing strategies depend largely on whether or not your lender repriced for the worse on Friday and if they published rate sheets yesterday.
If your lender did not reprice for the worse on Friday and did not release rates yesterday, loan pricing will be worse today.
If your lender updated rebate yesterday, your pricing should be marginally better today.