A  comment from the MBSonMND Dashboard:

(3/7/11 -- 1:17pm): FNCL 4.5's aren't merely holding near some of the highest prices in a month--102-00--but are doing so with minimal volatility. A range of 101-29 to 102-00 has contained almost all ticks for the past two hours. Good prices and good stability are normally good for reprices for the better. We've seen quite a few and in some cases, more than one from the same lender. 10yr notes are at 3.479 and the S&P is at 1306.22, 15 pts down on the day.

Here's a chart showing FNCL 4.5's creeping back to their best levels in a month.

Without scheduled economic data today (or Friday afternoon following the NFP-volume), we've seen a fairly strong correlation for stocks and bonds.  Here's a look at the stock lever since 10:30am on Friday. 

If you haven't seen a reprice for the better yet from a particular lender, it's more and more likely that you will.