the 4/32nds we got is gone again (for now).  Certainly not time to think about locking yet, but still no improvements likely.  The probable result of today's action is that we are going to see the big market movements in the next two days.

FYI, 10 year treasuries are still tracking well with MBS so if you see yields shoot up more than .03%, it may be time to think about locking.