Now we're only 7/32nds off the highs as opposed to the 10/32nds from minutes earlier.  This decreases reprice risk substantially for those lenders that have not already repriced.


The following graph gives you an idea of how nicely prices rose this morning followed by how quickly they dropped off.  As you can see, however, they appeared to have "caught a branch" on the way down and are now trying to claw their way back up: