MBS and Treasuries ended the day near their best closing levels since the beginning of the month.  It wasn't a given from the outset though, and far from a straight line. 

The first roadblock came in the form of almost comical newswires from a Greek "official."  The wires indicated that Greece's creditors were close to a draft accord that would include a long term solution on Greece's debt.  They were already painfully toothless and generic before the funny stuff started coming out, but the funny stuff completed the picture.  To paraphrase the wires, a Greek debt deal would already be done if it weren't for the mean old IMF.  EU officials later denied that any such draft existed. 

No one knows who's telling the truth and no one cares.  It's obviously not the grand bargain that Greece would like and we're obviously not going to hear that Greece will magically be solvent.  So whatever news may come, it will always be somewhere in between.  Nonetheless, markets gave it some credence (read: US and German bond market weakness), but backed down from those trades when the EU denied the rumors.

Treasuries stayed relatively more elevated with the 5yr auction yet to come (2nd roadblock).  The results were decent, at the very least, and bonds breathed a sigh of relief.  Only 7yr Notes remain on the auction block for May (unless you count the 2yr floating rate notes, but those don't really have a bearing on MBS).


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
101-05 : +0-02
FNMA 3.5
104-11 : +0-02
FNMA 4.0
106-21 : +0-01
Treasuries
2 YR
0.6490 : +0.0350
10 YR
2.1300 : -0.0120
30 YR
2.8680 : -0.0340
Pricing as of 5/27/15 6:26PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:03AM  :  ALERT ISSUED: Negative Reprice Risk Comes and Goes (Hopefully Stays Gone)

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Jason York  :  "use this: http://mndne.ws/1qtzoVs"
Clayton Sandy  :  "what is the VA Loan limit in the county that he has the current VA Loan? "
Kent Mikkola, NMLS 353976  :  "Normally(primary residence refi) : Current Balance + up to 60 days of interest - UFMIP refund = New base loan amount"
Steve Chizmadia  :  "Will this work SK? http://mndne.ws/1KA7ZfW"
Sung Kim  :  "anyone have a quick link to FHA max loan amount calc for S/L?"