Another update for you before we get to the main content for the day... The MBS market has picked up perhaps a tick or two since earlier this morning. Although jobless claims were over 400k, the level NFP number is buoying stocks still. Don't count out market psychology. We "want" to see the market make sense, and for stocks to realize just how crappy the outlook is, which would allow MBS to improve, but it's Independence day weekend.

Full story: mortgagenewsdaily.com