A bit of an early alert here as 10yr yields just broke above their previous intraday highs.  They're now up 3.6bps at 2.537.  Fannie 3.5s are down 5 ticks from yesterday and 3 ticks (3/32nds from some lenders' rate sheet print times.  If we lose another tick, some lenders would be seeing as much as an eighth point of weakness vs rate sheet print times--essentially the reprice risk threshold for the early/aggressive crowd. 

Don't be complacent if you have rates in line with yesterday afternoon and if bonds continue to weaken.