Despite a slightly better than expected auction of 10 year treasury notes, the prices of mortgage backed securities closed unchanged on the day. There was a brief period following the auction where MBS did move lower which led to a few lenders repricing for the worse. As the day progressed, MBS rebounded; however, the few lenders that repriced for the worse did not give back what they took away. As is very typical with lenders, they are quick to reprice for the worse but rather slow to pass along...