MBS Bonds Take Advantage as Stocks Retreat Slightly

As stocks slipped slightly from their post election highs. MBS bonds made up nearly 50 basis today.  It that nice gain holds, we may see a 4.00% mortgage rate here and there tomorrow.  Keep in mind that bank pricing desks are always slower to reduce rates than to increase them.  Crude oil was up over 46.50 per barrel and with no economic reports coming out today traders were thinking about the 180,000 new jobs expected in Friday's jobs report.  The Dow lost 54 points on the day.