Bond markets were just slightly weaker overnight, with no major volatility or trading themes emerging.  MBS walked in the door a bit weaker as a result, but were soon right in line with Friday's average levels.  Treasuries were a bit weaker.

The 10am Pending Home Sales release was quite a bit stronger than expected, and actually moved markets.  It tends not to, but the possibility was there if it ended up convincingly breaking the 8-month losing streak in place until today. 

The damage was fairly minimal by the time the next market mover showed up.  The 'market mover' in question was a steep sell-off in equities markets that saw S&P futures fall over 25 points peak to trough.  Bonds recovered during this time, but neither Treasuries nor MBS made it to any better levels than those seen earlier in the morning.  For MBS, this was just barely into positive territory, and while it netted us a few reprices, it was more of a token bounce.

Stocks corrected into the afternoon and gained back well over half of the initial sell-off, pressuring bonds into weaker territory in the final hours of the day.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
FNMA 3.0
97-06 : -0-05
FNMA 3.5
101-09 : -0-03
FNMA 4.0
104-16 : -0-02
2 YR
0.4339 : +-0.0001
10 YR
2.6877 : +0.0217
30 YR
3.4726 : +0.0326
Pricing as of 4/28/14 3:23PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
1:25PM  :  MBS Back Into Positive Territory as Stock Melt Down
10:15AM  :  ALERT ISSUED: Bond Markets Weaker After Strong Pending Home Sales Data
9:20AM  :  Bond Markets Slightly Weaker; Some Volatility

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Benjamin Biscoe  :  "anyone know if a J-1 visa is going to cause problems?"
Jason Anker  :  "depends on loan type"
Jason Anker  :  "J1 usually no good"
Andy Pada, Jr.  :  "i just saw the fannie mae and freddie mac commercial"
robert clark  :  "Guess they are fighting for their survival."
Alan Craft  :  "Do you have a link for that commercial?"
robert clark  :  "you can see the commercial at"
Jason York  :  "would anyone be offering 3.75%, with a 1% credit back to the borrower, on a VA Jumbo, $510k loan amount, 796 midscore?"
Alan Craft  :  "15 yr? ARM?"
Jason York  :  "nope, 30yr fixed, from Zillow!"
dustin mcalister  :  "yes, 30 year fixed. i know a couple of lenders that are probably right there as well "