Friday 10/31 ... More Reprice Risk Materializing

We're now entering a zone where lenders that priced in this AM's gains may consider a reprice for the worse. If you haven't gotten rates yet, don't worry, but if you did, and you got a majority of the nearly half point YSP improvement overnight, consider "riding the rips" and "selling the dips"

In other words, short term deals may be seeing a good opportunity to lock. If you're at all predisposed to float, I would stay in the boat a bit longer until further notice. We're still 7+ ticks up on the day and that may be all the more than many lenders were comfortable pricing in this morning. Expect wide discrepancies between lenders in how they "treat" reprices today. no tricks...