Friday 11/14 ... Flirting with the lows

We always feel compelled to tell you when prices hit their session lows as they have done in the last 5 minutes or so. This is not necessarily an indication of a reprice for the worse unless your lender priced fairly recently and fairly aggressively. Even then, because of the narrow trading range and the fact we have sold only 5 ticks peak to trough, the concern-o-meter is not in the red yet. But stay tuned should things slide further. And of course if the loan in question rests upon the very edge of the razor, locking now would avoid the risk (miniscule though it may be).