Now we are firmly in the danger zone and "ahead of the curve" lenders will reprice.

More persistent weakness and additional lenders will reprice. this is likely.

Technical indicators point to a potential down day tomorrow. Combined with a late "head and shoulders" in treasuries, and the unlikliness of MBS to string together numerous up days, short termers should lock.

Many apologies if something TARPy hits in the next few days or another unexpected headline occurs as rates will get much better, but that risk may not be worth it to you. In a data vacuum, rates will worsen tomorrow. And knowing we will have data, there is no way to advise you with certainty. Long termers are still cleared to float. Cash out some gains and enjoy.