We’ve seen 2 reprices for the better so far this morning, but notably, those came from the 2 lenders that reprice algorithmically as soon as MBS hit certain levels. That level seems to have been 101-20 (and quite a nice level it is! The best since 10/7), but the early repricers will only have each-others’ company unless MBS can sustain current levels (Fannie 3.5 at 101-19) for a bit longer.
Even so, the only reason this analysis should matter to you is if you’re locking something today and notice that one of two things are happening before receiving a reprice for the better:
1. prices fall below 101-12 in Fannie 3.5’s
2. you have reason to believe based on instinct or discussion in the dashboard chat that the lender in question could be getting enough lock volume for a pipeline-control reprice for the worse.
Failing those two things, it is possible that a few other lenders could offer a reprice for the better if prices stay high and stable.