Mortgage Backed Securities are Minus 6 this morning.

Lenders came out very aggressive in their pricing today. The short week and low volumes may have prevented them from producing the best rates available. Today they are very aggressive in the face of head winds. We will have to see if they keep their sentiment the rest of the trading day. We are already off the best levels of the day and sliding.

The Institute for Supply Management released their current reading. Most...