In terms of market movement and new developments, there's nothing to add to the mid-day update.  Bond markets were under mild pressure at the outset, but for every trader interested in buying bonds due to Friday's weak NFP data, there were 2 other traders who'd already capitalized on that move and who were now looking to sell. 

We spent a lot of time discussing the 1.84-1.86 inflection zone lately, and in today's still light volume, it came into play in a big way today.  The moment that 1.86 was broken, selling pressure picked up steam in a big way.  take a look:

2015-4-6 10's

Naturally, the weakness translated to MBS in terms of timing, making for widespread negative reprices.  Also fairly natural was the fact that MBS escaped with a lesser version of the sell-off (MBS tend to rally less and sell less than Treasuries during these bigger moves).  Fannie 3.0s are heading out with prices still noticeably inside Friday's trading range while Treasuries are pushing their weakest 2-day levels.  That said, the weakest 2-day levels also look to be providing support.  If they continue to do so tomorrow, we'll have an interesting fight on our hands between that support and the resistance at the 1.84-1.86 inflection zone.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
FNMA 3.0
102-13 : -0-08
FNMA 3.5
105-04 : -0-07
FNMA 4.0
106-29 : -0-05
2 YR
0.5000 : +0.0160
10 YR
1.8990 : +0.0574
30 YR
2.5560 : +0.0680
Pricing as of 4/6/15 4:45PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
12:33PM  :  ALERT ISSUED: If You Haven't Seen a Reprice Yet, You Probably Will
11:25AM  :  ALERT ISSUED: Negative Reprices Now Becoming Probable for Many Lenders
10:50AM  :  ALERT ISSUED: Negative Reprice Risk Increasing
9:59AM  :  Little-Changed as Europe Remains Out; ISM Data Coming Up

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Russell Nelson  :  "typically, you have to use 1% or you can use the scheduled fully amortizes payment as noted in the "Exception""
Russell Nelson  :  "Ted, its on page 550 of the selling guide"
Ted Rood  :  "Anyone know if a buyer who has an installment payment plan set up with IRS can purchase a home, using the installment payment as a monthly liability? Been looking in the dang Fannie guide for the better part of 30 minutes, can't find anything on it."
Victor Burek  :  "yes, the cashout rules on primary residences in Tx, don't apply to investment homes"
Nathan Miller  :  "does cash-out on a non-owner occ exist in TX?"