MBS ALERT: Lows Of The Day
By:
Matthew Graham
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Though 99-19 has provided great support all day, in the past few minutes we've broken through by a big enough margin that not only may lenders be considering additional reprices for the worse, but it is now time to gradually begin sliding out the time horizon if you're going to keep floating. In other words, the more prices drop at this point, the worse it is for a longer term outlook. If the getting is in any way, shape, or form, "still good," then depending on your scenario and intestinal fortitude, "get out."