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MBS at Lows After Fed Buying; Some Negative Reprice Risk

MBS have fallen to new lows for the day, down more than an eighth on the day and more than a quarter point from the morning's highs.  The losses immediately followed the end of the Fed's MBS buying for the day (getting to be a very familiar pattern), but it's worth noting that benchmark rates are moving up as well (i.e. Treasury yields have been trending higher since 11:30am).  

Some lenders could be considering negative reprices.

MBS / Treasury Market Data

UMBS 5.5
98.72
+0.25
UMBS 6.0
100.39
+0.19
UMBS 6.5
101.81
+0.11
2 YR
4.7163
-0.0249
10 YR
4.3602
-0.0724
Pricing as of: 7/3 5:59PM EST
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