Just like yesterday our trend is holding true into the afternoon. But yesterday we had a bit of a droppoff.
Today, the graphs below show the price curve bouncing off 99-16. It hit it again recently and is continuing the same bouncing trend. This suggests prices will return there by the end of the day making locking wise. However, you might consider holding out for CPI numbers tomorrow. If inflation is better than expected, it could be quite a boon to MBS pricing, especially considering how much better MBS are priced compared to Treasuries. Here is the graph since the last bounce. The dotted portion is time yet to come. Will the trend hold true?