"Rate sheet influential" MBS prices began to fall following the release of Non-manufacturing ISM data. Weakness has expanded and prices are still falling. The 100-17 pivot point has been broken, so to has 100-14 support. If your lender has already published pricing, a reprice for the worse is possible. If your lender has not published...expect a delay.

The FN 4.5 is currently -0-07 at 100-12 and 10s are -0-12 at 96-13 yielding 3.816. I would expect "buying on the dips" to help restore stability in the rates market.