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Moderately weaker overnight but holding inside the range. 10yr up 1.9bps at 4.19. MBS down an eighth of a point.
No reaction to 3yr Treasury auction. 10yr up less than 1bp at 4.18 and MBS down just over an eighth of a point.
MBS down 9 ticks (.28) and 10yr up 1.5bps at 4.186
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While the broader bond market is relatively stable, MBS continue to slide this afternoon. 5.0 coupons are down more than 3/8ths on the day and nearly a quarter point from the AM price plateau.
Lenders who have not yet repriced for the worse are increasingly likely to do so. Those who don't will be pricing with headwinds in the morning.