There are some smokin' rates out there this morning for a few lenders. If you have access to one of them and have been locking hand over fist, don't be surprised to see a pipeline-control reprice.
Beyond that, MBS are down roughly 3/8ths of a point from the morning's highs, which is just about the most conservative edge of reprice risk these days (assuming a lender is even basing mid-day reprices on MBS prices--some aren't).
2.5 UMBS are still up more than an eighth on the day at an impressive 103-16 (103.5). 10yr Treasury yields are still down 5bps on the day at 0.81%, but off the previous lows of .783.
