by
Matthew Graham
on
November 25 2008, 10:16 AM
Current MBS Price and Day Over Day Change: FN 5.5 30YR MBS = 101-21 .... +1-06 (36 ticks) This is off quite a bit from the highs of the morning which were over 102, but is a very nominal 38% retracement. Lenders that priced between 9:00 and 9:30 might reprice for the worse if they priced in gains aggressively, but that is unlikely. We will either encounter overhead resistance around the 100-22 to 100-26 level and come back down, in which case, locking makes sense, or we may break through and continue