A few of the jumpiest lenders may soon consider negative reprices as Fannie 3.5 are now down roughly an eighth of a point from the morning's highs.  10yr yields continue pushing into the highest levels of the day, up just over 1bp at 2.292.

Again, most lenders are already priced conservatively enough for this weakness, and would need to see 2-3/32nds of additional weakness before considering reprices. 

There are no specific developments behind the move--just a gradual trend that's been in place since the NYSE open.