MBS RECAP: 11/4/2011

After the initial knee-jerk following NFP this morning, MBS took a stab at getting appreciably above 102-00. A few lenders that had released more conservative rate sheets earlier subsequently repriced for the better. Fannie 3.5’s got as high as 102-06 but have since fallen back to 102-00, which is the most frequented level since 10am.

That being the case, a few additional lenders might reprice for the better–more and more likely as MBS rise above 102-00, less and less so, should they fall lower than 102-00.

Again, the only really meaningful market moving event on the horizon is the Greek confidence vote, but as far as we know right now, that won’t occur until after market hours.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/235132.aspx

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