All i can say is it was another boring day for mortgage backed securities. They moved up slightly, than back down a little and ended up closing about were they opened. What makes today successful is the flow of money didnt affect mbs. If you didnt notice, the stock market took off today on the news of the banking plan to get bad debts off their books. Usually, when the stock market has a good day, you would expect mbs to sell off some but today the Dow had a FANTASTIC day and mbs held their ground. Days like today do not lead to better pricing, but they sure prevent worse pricing and it is helping to establish a solid floor of support that will hopefully prevent any further declines in mbs pricing in the days to come.
Everyone have a good night and i will get back to you tomorrow.