Weaker overnight and little-changed after data. MBS down just over an eighth and 10yr up 3.6bps at 4.136
sideways at weaker levels. MBS down 5 ticks (.16) and 10yr up 3.6bps at 4.136
sideways at similar levels. MBS down 6 ticks (.19) and 10yr up 3.4bps at 4.134
MBS are down nearly a quarter point on the day and just over an eighth of a point from intraday highs. Those highs arrived around the time that some lenders were issuing rates for the day. As such, those lenders could be considering negative reprices. That said, current price levels were effectively seen around 11:45am as well, so if the lender in question didn't reprice then, there's little additional impetus for them to do so now. Nonetheless, there's just a bit more risk.