MBS prices for the 3 major agencies for 15 yr and 30 yr securities are displayed. The gains or losses since the prior day’s close are also shown. For example, a change of .020 means that MBS prices are 2/32 higher than at yesterday’s closing level. Similarly, -.040 means 4/32 lower, and .000 indicates no change from the prior day’s closing level. Positive changes for the day are shown in black and negative changes for the day are shown in red.
MBS prices by convention are quoted in thirty-seconds of a point. In our price presentation the first two numbers after the decimal point will always range from 00 to 31. A price of 100.040 means 100 and 4/32. Since 1/32 is equal to 0.03125, a simple rule to convert from fractions to decimals is to multiply the number of 32nds by 3. For example, 4/32 is about equal to 0.12 or 12 basis points. A conversion table dropdown box with the exact conversions is available on the homepage.
Our prices also display a third digit after the decimal point, which could be 0,1,2,3,+,5,6, or 7. These represent eighths of a 32nd, with the + replacing a 4. For example a third digit that’s a 7 means the price is some number of 32nds plus 7/8 of a 32nd, while a + means 4/8 or 1/2 of a 32nd. To sum up, a price of 100.173 means 100 and 17/32 and 3/8th of a 32nd. (In basis points this would be a price of 101.54297.) We round the third digit in all commentary.
Can I see prices in basis points rather than 32nds?
You can see prices in basis points under our Charting Tab. Both the Short-Term and Long-Term charts track prices in basis points. Mouse over any point on the price tracking line to see what the basis point price was at that time.
In addition, you have an option to receive our emailed market updates and alerts and our text messaged alerts with the MBS prices and price changes discussed in basis points. This option can be made through the My Profile section of the web site under the Edit Delivery Preferences tab, or you can call in your request to 800-627-1077 or email firstname.lastname@example.org.
Selecting this option will not change what you see on the MBSQuoteline website. The prices and price changes in the price tables on the website will continue to be shown in 32nds, as described above.
Every time a trade takes place in the market, the prices will update within seconds. The 9:45 est pricing level (a benchmark time around which most price sheets are issued) is displayed just above the prices table.