It's more than just a minor hiccup now. At 9:45, Deutsche Bank released a report that warns of several factors pointing towards further widening of the MBS curve vs. treasuries.
This, combined with slightly rallying stocks has taken it's toll on treasuries and MBS alike. We massively tanked since then, and when the data was made available to analysts 1 hour later, we've tanked even more. Down .375 (12 ticks) so far on the day.
This brings us to 99-28 on the 6.0's down from as high as 100-10 this morning.
Lenders that priced early will probably be repricing for the worse, or may have done so already after our first reprice alert of the morning. This post is to notify you that the weakness is persisting. As far as how long this will remain will depend on the tenor of the rest of the day. It will either by an outlying dissenting opinion or a momentum creating tape-bomb. So far, it's the latter, but that's no guarantee it will stay that way. If you got rates after 10AM eastern, no harm in continuing to float, or if you have a bit longer of an outlook, at least through the end of this week.