Wanted to get the warning out there for short termers, If you need to play it safe with a doc order coming up quickly, looks like now's the time. Despite my MBS bullish "gut," I'm compelled to tell you that 3 out of the last 3 weeks have seen weakness on Friday's and on the last two weeks in fact, the only down day was Friday.

Even though I, and many-an-analyst agrees that further MBS tightening is warranted considering fundamental factors that have not yet played out, the safest bet for short term is a lock. However! To whatever extent we're going to analyze technical trends (in the sense that we're commenting on weak Friday's), it must also be noted that the folloing monday, in all 3 cases, was higher than than Friday. So perhaps you are at an emotional stalemate.

Whatever the case, you will likely see a quarter coming off of most lenders' ratesheets shortly. As always, the longer you have to order docs, the more it makes sense to float with what should continue to be bullish MBS.