MBS ALERT: REPRICES FOR WORSE
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The S&P has broken and held gains over the 1,000 price mark, unfortunately since the yield curve and MBS are taking directional guidance from the stock lever....the 10 yr yield has jumped 10 bps to 3.75 and the rate sheet influential FN 4.5 is testing the lows of the day at 99-06. If your lender hasnt already REPRICED FOR THE WORSE...its coming.
We do expect 3.75 to provide support and for the RANGE TO MODERATE LOSSES