Happy Friday...
This is simply a chart illustrating the continued rally in MBS and Treasuries. This puts us on the high side of this week's trend channel and bringing the 4.5 coupon up to 100-15. Last time we were this high was the beginning of the month... Wide open for witty rejoinder, so feel free to use the comments section for that...
Reprices for the better are infinitely possible, but will vary lender to lender. Since it's Friday at the end of the month, and settlement is approaching for Class A MBS, there are some behind the scenes factors beyond MBS that can influence rate changes today. Any other day, and reprices for the better would be an utter certainty, so must be qualified here as possible and probably, but no one would argue that MBS price improvements certainly merit better rate sheets at the moment.
If you get those reprices for the better, and they are aggressive, these are the heady sorts of price levels that many find themselves looking back on and saying "I wish I locked when the 4.5 was near par and a half." To revisit a recurring theme though, you have to keep track of how your lender's rate sheets look compared to how MBS are moving. In essence, you're just looking to see that the ratios are relatively consistent so that you can determine whether or not a reprice is aggressive, or if you are still "owed" something.
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