2.5 UMBS are down an eighth of a point from the day's previous highs and 2.0 UMBS are down nearly a quarter of a point as Powell's press conference begins.  Bonds have been trending weaker for most of the past half hour.  This isn't a huge, decisive move at this point.  Tough call on treating this as a lock trigger if you were planning on locking today.  Unless floating with a jumpy lender, we haven't seen quite enough weakness yet.  That said, reprices can't be ruled out for a few lenders. 

Treasuries are doing worse, with 10yr yields now up more than 2bps at .638.