Febraury 17th Mortgage Market Wrap-up

MBS prices are up +16/32 (FNMA 30-yr 4.5 at 101.12), above the initial price level at +9/32. Favorable repricing was seen. MBS markets gained as investors moved to relatively safer investments such as bonds. The Dow fell 300 points. Tomorrow, Housing Starts, Import Prices, and Industrial Production will be released. In addition, the minutes from the January 28 Fed meeting will come out at 2:00 et, and Fed Chief Bernanke will be speaking.