Tuesday 10/14 ... Settling into a range.

6.0's are off their lows ever so slightly at 100-02+ which is 2+ ticks down on the day. Lenders that came out a bit more aggressively this morning have reasonable potential to reprice for an eighth, but at these levels we'll likely avert a mass reprice. It will all depend on how conservatively your lenders priced this morning. In general, one might consider that there could have been a certain "optimism" earlier this AM when most of the trade screen was green in color. No that it's red in color, reprices could come from a purely psychological standpoint. Again, this doesn't mean that longer-termers should get out of the boat just yet as it's only a matter of time before intervention actions exert more of their positive impact on the MBS market.