Moderate risk of reprice for the worse as MBS have pushed to their lows of the day as stocks and tsy yields push higher.  10 yr futures just fell off enough to cause a bit of concern.  Keep in mind that this is still acceptable in the context of the "more auctions and data to come" mentality that pervades the week. 

(update below added 2:22pm)

The selling that carried us outside today's trend channels (see the red lines) has abated and we have moved righ back "in the range" for the day.  Reprices for the worse are even less likely now, although considering the overall downtrend on the day, they can't be completely ruled out.  The main reason for this would be the timeframe that saw the highs of the day coincided with the same time frame that many lenders release rates.  From that perspective, even though we are still 7 ticks positive on the day, at one point a few minutes ago, we were 10 ticks down from when some lenders might have put out rate sheets--certainly enough for those that passed on the price gains this AM to take them back this PM. 

But as always, I'd suggest taking a look at yesterday afternoon's rate sheet compared to today's to see how much of those gains were truly passed on, or if your lender's pricing was hedged for the auctions and the rest of the week's data.