We had a choppy start to the day. Mortgage rates opened up marginally better vs, yesterday but mostly the same. However, in the lunch hour, breaking news was released which had a big affect on the bond market. The SEC today filed civil charges against Goldman Sachs for essentially selling a mortgage investment that was designed to fail. This event caught the market off-guard. The resulting trade reflected panicked sentiments as stocks positions were sold in favor of risk-averse assets like Treasury notes. This "reallocation" of funds into Treasuries helped push benchmark yields lower which led mortgage-backed security prices higher and allowed lenders to reprice mortgage rates for the better....