MBS Update: A Real Barnburner....

IT'S A REAL BARNBURNER IN MBS LAND TODAY!!!

"NOT" --- in my best Borat voice :-)

Volume is LOW and MBS prices are barely off their intraday highs. The 4.5 coupon is receiving the most attention so far today. Here is the current pricing...

FN 4.5: +0-07+ at 101-26+          GN 4.5: +0-09 at 102-10+

FN 5.0: +0-07+ at 102-12              GN 5.0: +0-10 at 102-29           

FN 5.5: +0-08 at 102-20            GN 5.5: +0-11+ at 103-06+           

FN 6.0: +0-07 at 102-28          GN 6.0: +0-10+ at 103-05    

No reason to believe any sort of reprices are looming (that is of course unless your lender has you priced way out of the market and they randomly decide to pass through a few extra bps). Rate sheets are a few bps better from Friday but nothing to be excited about...stay tuned for any quick sell off alerts.

Float boat is still out to sea for now