http://MikesDailyMarketReport.com: We don't have anything to report on the Economic Calendar today; however, there is a 5 year Treasury Note Auction at 10am PST, which may have some impact with the Market today. The main culprit for impacting both the Stock Market and MBS Market adversely today (similar to yesterday) is the concerns of further escalation by Russia with Ukraine. MBS closed Down 38bps yesterday, which led Lenders to reprice for the worse. Today, MBS opened lower, but not enough to really change pricing for Mortgage Rates (Unchanged). However, over the past few minutes, the Market seems to be showing some improvement; and Lenders are beginning to reprice their ratesheets for the better. It's currently Up about 0-3bps, but it's up from -9bps earlier. Yields are trying to break above it's Technical Ceiling and sitting just under 1.98% currently.
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