There are no significant economic reports scheduled for release today.

In general market news, AIG announced a larger than expected write down which is one of the factors leading to generally tepid stocks this morning.  The Dow is currently down about 30 points.

Mortgage Backed securities are better by a very small margin, currently up about 2/32nds on both the 5.0 coupon and the 5.5.

This may cause a very slight improvement to discount cost today.

With no data being released, we will watch stocks for a an indication of market direction.

Lock/Float : As always, when the market is near all time lows, locking is a safe play.  In recent weeks, the market seems more responsive to positive data than to negative.  This makes floating more risky.  However, many believe we have farther to fall, myself included.  The best question is: how soon will this occur and to what extent.  This is a relatively light week in terms of economic reports.  Stay tuned to financial reports and this blog for more updates.