Negative reprice risk is a bit tricky this morning as prices were moving fairly quickly lower during the early rate sheet window. Lenders who price as early as 9:30am are already seeing more than an eighth of a point of weakness whereas lenders who price at 10am or later are seeing no weakness at all.
Bottom line, jumpier lenders who priced at 9:40 or earlier could be considering negative reprices.
In outright terms, MBS are at the lows of the day, down 3 ticks (.09) in total. 10yr yields are up 1bp at the highs of the day (4.797).
Negative reprice risk is a bit tricky this morning as prices were moving fairly quickly lower during the early rate sheet window. Lenders who price as early as 9:30am are already seeing more than an eighth of a point of weakness whereas lenders who price at 10am or later are seeing no weakness at all.
Bottom line, jumpier lenders who priced at 9:40 or earlier could be considering negative reprices.
In outright terms, MBS are at the lows of the day, down 3 ticks (.09) in total. 10yr yields are up 1bp at the highs of the day (4.797).