|This email was sent to you by:|
Tonya W. Kenon |
Mortgage News Daily
Email alerts, such as this one, are a free service
provided by Mortgage News Daily. If you would like to receive an alert when important news breaks
please register to join our community
Positive Reprice Potential Increasing MBS Hit New Highs
Posted to: Micro News
Tuesday, January 22, 2013 11:53 AM
MBS have edged up within a tick of Friday afternoon's highs. Treasuries have led the breakout of the morning's narrow range, themselves challenging Friday's lowest yields. The current move is technical and tradeflow-based--not shared by equities markets. Fannie 3.0s are currently up 3 ticks at 104-07 and 10yr yields are down half a bp on the day at 1.8346.
There's clearcut technical resistance here from the longer term uptrend in rates as well as 2-session highs in MBS. If 10y yields were to break much lower, we could see some sort of mini-snowball of follow through. Holding these gains for now though. If MBS continue to hold or improve upon these levels, the "early crowd" may be in for a positive reprice fairly soon, but nothing on the scale that would get a majority of lenders onboard (the total range on the day is still under .25).
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.