Given the time of day, this is more of a heads-up for most lenders (i.e. not every lender reprices this late). Additionally, the weakness in MBS is fairly minimal and the market movement has been a slow drift.
With that out of the way, 10yr yields are now up 3 bps at 4.098 and MBS are down 1 tick (.03) on they day and an eighth of a point versus the AM highs.
This could be a scenario with zero reprices at best and no more than a few at worst. The best way to use this alert is as a lock cue if you were already planning on locking today.
Given the time of day, this is more of a heads-up for most lenders (i.e. not every lender reprices this late). Additionally, the weakness in MBS is fairly minimal and the market movement has been a slow drift.
With that out of the way, 10yr yields are now up 3 bps at 4.098 and MBS are down 1 tick (.03) on they day and an eighth of a point versus the AM highs.
This could be a scenario with zero reprices at best and no more than a few at worst. The best way to use this alert is as a lock cue if you were already planning on locking today.