Sadly, for the jumpiest, earliest lenders, it may not be too soon to consider negative reprice risk. MBS are still up 6 ticks (.19) on the day, but down a quarter from the highs. More importantly, they're down just over an eighth of a point from the earliest rate sheet print times and Treasuries are pushing a bit higher in yield.
This isn't a guaranteed reprice environment, but we have seen a lender or two pull the trigger in similar situations in the past.
