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MBS At New Lows; Modest Reprice Risk

MBS have been declining steadily throughout the morning with additional weakness seen after the conclusion of the Fed's MBS buying (only 2 operations per day now, with both concluding before noon).  

2.5 UMBS are now down 5 ticks (.16) from the morning's highs and an eighth of a point on the day.  Some of the jumpier lenders could be considering negative reprices, but the average lender would need to see several more ticks of weakness. 

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
This Mortgage Market Alert is provided in partnership with MBS Live and provided exclusively to MBS Live Subcribers.