Folks, it's a face-melter of an MBS rally.

Funding sources are unfreezing and all the pent-up energy we knew wanted MBS but was cash-poor, is now being unleashed on the market with glorious fury.

We are knocking on the door of one of the best rally's of the year with 5.5's now up (hold on, need to get the calculator out for this one) 60 ticks! That's 1 and 28/32nds. In other words, you are owed by your lenders nearly two extra points in YSP.

Keep tabs with Friday's rates. If you need to lock soon, make sure they gave you all the McLovin'. But barring catastrophe, it's "all aboard" for the float boat.

(exciting and new? Nirish! It's time for a new poster!)