If we're only considering MBS prices and rate sheet print times, there isn't more than a lender or two out there that could justify a negative reprice right now.  That said, both 2.0 and 2.5 UMBS 30yr coupons are at least an eighth of a point off their highs and Treasury yields look to have bottomed at noon sharp.  

While we haven't necessarily seen a major reversal since then, bonds haven't seemed eager or willing to push the pace of improvement.  For those of you who were already planning on locking today, this is a tough call.  On one hand, there's still a possibility that you'll see a positive reprice.  On the other hand, certain lenders are perhaps closer to considering negative reprices by the time they factor in new lock volume.  This would become more of a risk if this trend of weakness continues into the afternoon.