Nothing much has changed since the mid-day commentary because bond markets had already effectively "left the building" after the 11:30am Treasury auction.  With just over an hour of trading time remaining, MBS are at their weakest levels of the day, but that doesn't even bring Fannie 3.5s into negative territory. Treasuries and Fannie 3.0s are doing a bit better.

More importantly, none of this afternoon price action is meaningful.  Trades executed by human beings have been almost non-existent in the PM hours.  Now, I'll be the first to remind you that an absence of volume doesn't mean a drop in prices is irrelevant, but here's the deal: either you're going to lock today, or you're not.  If you weren't planning on locking today, there's nothing about the currently mild afternoon weakness that should change your mind.  Of course if that weakness were to become something other than mild, it would be a tougher decision, but we'll cross that bridge if we come to it (and we shouldn't come to it).

As a reminder, financial markets are closed tomorrow for Thanksgiving, but are open for a completely nonsensical and borderline-infuriating half day on Friday.  It would be a surprise to see anything meaningful happen in markets before next Monday.  Happy Thanksgiving!


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.0
100-25 : +0-03
FNMA 3.5
103-31 : +0-01
FNMA 4.0
106-19 : -0-01
Treasuries
2 YR
0.5200 : -0.0040
10 YR
2.2460 : -0.0130
30 YR
2.9540 : -0.0100
Pricing as of 11/26/14 3:58PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:21AM  :  Bond Markets Holding Moderate gains After 1st Round of Data

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Nathan Miller  :  "im thankful for this weeks rally, made my Dec"
Daniel Kramer  :  "floating everything till Monday. locking today throws away 5 days of a lock. "
Brian Bockholdt  :  "Locked a few yesterday but still floating several more until Monday at least"
Nathan Miller  :  "locked everything up personally "
joon choi  :  "anyone floating until Monday?"
Clay Schmeisser  :  "Happy Thanksgiving to you all as well!!! Great little mortgage family we have here. I hope you all have a great weekend and an awesome end to your year"