MBS Reverse Course. Rate Sheet Delays and Recalls Possible

"Rate sheet influential" MBS coupons have fallen to new intraday lows as stocks have risen to new intraday highs.

This is poor timing as many lock desks are preparing to publish loan pricing. If you've already seen rate sheets go live, you are danger of seeing them recalled. If your pricing hasn't been updated yet, you are likely to experience further delays as secondary adjusts rebate to better reflect current MBS indications.

June delivery FNCL 4.0s are 11/32 off intra-day price highs.

Profit taking in rates has been prevalent.