Just a heads up as the market is drifting lower (MBS now down 5/32’s) as Fed Governor Hoenig, who believes that economic and financial conditions have changed sufficiently and that expectations of low interest rates for an extended period of time are no longer warranted. Comments were made about Treasury/MBS purchase program that are set to expire March 31st or June 30th are still in vogue. Markets are slipping as we speak, warranting a worsening reprice. Hang in there.
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