Just in case it's not obvious from the past two alerts or the ongoing sell-off in bond markets, reprice risk is elevated.  It's more elevated in the past few minutes as bond prices have plumbed new lows.  Fannie 3.5s are now down half a point on the day at 102-06 and almost any lender is looking at a quarter point of weakness from rate sheet print times.  For most, that's sufficient for reprices.