Mortgage rates are slightly worse

from yesterday’s multiple re-prices for the worse. Mortgage bonds and Treasuries are paring some losses at the moment but investors are pricing defensively ahead of today’s 7-year auction given yesterday’s carnage after a poor showing of Treasuries’ 5-year offering. No scheduled news was released today but tomorrow brings jobless claims and pending home sales before pricing is set. Trading conditions remain thin and choppy in this shortened final week of 2010. Auction results due out around 10am…