Benchmark 10 yr TSY note yields are moving higher toward a retest of the all-important 3.85%  technical level and  "rate sheet influential" MBS prices are falling.

After hitting an early morning price high of 100-18, the FN 4.5 is currently trading -0-01 at 100-06, a new intraday price low.

Lenders who published pricing early in the morning may REPRICE FOR THE WORSE as a result.  If you are sitting on the fence and basing your rate lock decision on one of those "early morning pricers", this is your first opportunity to take a portion of your pipeline profits off the table. This move isn't occurring "in size" though, meaning we are not seeing broad based selling..at least not enough to imply a shift broad based sentiment. So locking now might only be a good option for anyone closing in under 15 days....