MBS RECAP: One-Two Punch From Draghi and Jobless Claims Ahead of NFP

Fannie 3.0s are still hanging on to their lows from the morning hours that prompted the original reprice alert–12 ticks weaker vs yesterday at 102-26. Into the 1pm hour, MBS looked almost willing to start heading the other direction, but never made it off the ground. Since then, they’ve stayed locked in a 102-26 to 102-29 range while Treasuries grind microscopically higher in yield (all PM movement in 1.5bp range).

Despite holding ground in terms of MBS, 2 lenders have repriced for the worse in the past 20 minutes, suggesting the possibility that others who forewent a reprice this morning might still be lurking (or just hedging a bit more ahead of tomorrow’s NFP and Fannie/Freddie 30yr Fixed Roll in MBS).

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/299121.aspx

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