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Negative Reprices Can't be Ruled Out

I apologize in advance for what might seem like an unnecessary and/or excessive reprice alert, but it's hard to see the change that's occurred since some lenders' early rate sheets.  Granted, if those lenders are even somewhat savvy about what's going on in markets, they will have priced conservatively enough to avoid the need for reprices.  That said, we've seen it happen before in similar situations where the day begins with a sell-off already in progress.

Bottom line, several lenders are seeing more than an eighth of a point in MBS losses since the first rate sheets of the day.  Look at your rate sheet print time.  The earlier it is (especially 9am and before) and the closer it is to yesterday afternoon's latest levels, the greater the risk of a reprice.

MBS / Treasury Market Data

UMBS 5.5
99.48
-0.17
UMBS 6.0
100.94
-0.08
2 YR
4.6221
+0.0541
10 YR
4.2008
+0.0128
Pricing as of: 3/28 2:15PM EST
This Mortgage Market Alert is provided in partnership with MBS Live and provided exclusively to MBS Live Subcribers.