MBS are still up more than a quarter point on the day (+ 9 ticks or .28), but down 6 ticks (.19) from the highs. Whether or not that creates reprice risk will depend on the lender in question. The earliest lenders priced at fairly similar levels to where we are right now. Lenders who priced after 10:15am ET are at higher risk as that's when MBS hit the AM highs.
The bounce was a factor of higher oil prices which followed news of a new aircraft carrier being deployed to Iran as well as other headlines regarding various attacks on U.S. allies.
