MBS MID MORNING ALERT: Prices ticking down

We're a bit further off than previously with 4.0's at their previous intraday low.

4.5's continue to hold about our "panic line" at 101-01.

Here's how the stack stacks up:

4.0 at 99-20, 5 ticks down on day

4.5 at 101-01, 4 ticks down on the day

5.0 at 102-02, 3 ticks down on the day.

Lenders that released rate sheets already have a slight risk of repricing for the worse.