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modestly stronger overnight and sideways so far. MBS up 3 ticks (.09) and 10yr down 2.4bps at 4.228.
still sideways ahead of 2yr Treasury auction. 10yr down 2.4bps at 4.22. MBS up 3 ticks (.09).
Near weakest levels, but in a narrow range. MBS up 1 tick (.03) and 10yr down only 0.4bps at 4.249
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While there were technically a few MBS bids that suggest a 5 tick (.16) gap, the modal high is exactly an eighth of a point above current levels in 5.5 UMBS. This leaves the jumpiest lenders right on the doorstep of considering a negative reprice.
While odds are highly variable in these situations, the best way to use this alert would simply be to lock if you were already planning on locking today and had just been holding out for any potential improvements. It's now looking fairly safe to say you won't see those improvements.