Most mortgage lenders didn't release rate sheets early enough for there to be too much negative reprice risk, but some lenders are seeing an eighth of a point drop versus rate sheet print times.
5.5 UMBS are still up 5 ticks (.16) on the day, but down an eighth from 9am and down more than a quarter point from the initial post-data highs.
10yr yields are still down 4.2bps on the day at 4.277 but up from lows of 4.238.
