MBS Update: Another Bounce

By: • Tue, Dec 23 2008, 2:30 PM

FN 4.5: -0-02+ at 101-06

FN 5.0: -0-04 at 101-26

FN 5.5: -0-06+ at 102-05+

FN 6.0: -0-05+ @ 102-18

Just a small bounce, didn't break the highs for the day.

We're not expecting too much of a reprice if any at this point....BUT if this continues we SHOULD BE (unfortunately over the past week we've all learned that SHOULD BE doesnt count for what it used to) due for a few extra bps from lenders. This is just enough of a rally to allow us to say you can float through the end of the day. If no reprices are seen we are still feeling locky.