Tuesday 9/16 ... Third Floor Violated

We just hit 101-08 which is a reasonable warning that we could see a reprice for the worse from several lenders of about an eighth.

This is 4 ticks down on the day.

Again, if you feel that your lender hedged early this AM for FOMC, OR, MORE IMPORTANTLY, if you are a long term "float-clubber," by all means, sacrifice this eighth for potentially better rates over the next few weeks.

Take it as you will, just be aware that several lenders may ding you for an eighth. Once "the end of the world" is upon us, we'll let you know.