On a week where the mortgage market was most likely to experience volatility due to Friday's jobs report, Thursday afternoon's surprise announcement of $200bln in GSE MBS (mortgage-backed securities) buying stole the show. This was already juicing the underlying MBS market yesterday afternoon, but traders took the surge to the next level this morning. This matters because MBS dictate mortgage rates.  When MBS are rising/improving/surging/etc., it implies lower rates. MBS had improved so much this morning that the average lender released their best rate sheet since Feb 2, 2023--the lowest level since September 2022.   The caveat is that MBS experienced significant volatility throughout the day and that volatility is likely to continue. As of this afternoon, at least one lender has already bumped rates back up a bit.  If more lenders follow suit, the end of day average rate could move up, but it would still likely be the lowest in at least a year.  Bottom line: the market didn't have much of a reaction at all to the jobs report. The MBS market continues sorting out a huge reaction to the GSE purchase news. Rates are definitely quite a bit lower. It remains to be seen how much lower they'll be when the initial volatility settles down--something that will probably require more clarity on the specifics of the MBS buying plan.

January 9, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.06% -0.15%   6.06% 7.26% 15 Yr. Fixed 5.59% -0.15%   5.59% 6.59% 30 Yr. Jumbo 6.35% +0.00%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Jan 9, 2026 Rates Plummet to 3 Year Lows, But There Are Caveats Fri, Jan 9, 2026 1:56PM On a week where the mortgage market was most likely to experience volatility due to Friday's jobs report, Thursday afternoon's surprise announcement of $200bln in GSE MBS (mortgage-backed securities) buying stole the show. This was already juicing the underlying MBS market yesterday afternoon, but traders took the surge to the next level this morning. This matters because MBS dictate mortgage rates.  When MBS are rising/improving/surging/etc., it implies lower rates. MBS had improved so much this morning that the average lender released their best rate sheet since Feb 2, 2023--the lowes... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.06% -0.15 0.00 15 Yr. Fixed 5.59% -0.15 0.00 30 Yr. FHA 5.69% -0.15 0.00 30 Yr. Jumbo 6.35% 0.00 0.00 7/6 SOFR ARM 5.72% -0.01 0.00 30 Yr. VA 5.70% -0.15 0.00 Updates Daily - Last Update: 1/9 Freddie Mac Rate Change Points 30 Yr. Fixed 6.16% +0.01 0.00 15 Yr. Fixed 5.46% +0.02 0.00 Updates Weekly - Last Update: 1/8 Mortgage Bankers Assoc. 30 Yr. Fixed 6.33% +0.01 0.60 15 Yr. Fixed 5.71% -0.02 0.64 30 Yr. Jumbo 6.46% +0.06 0.35 Updates Weekly - Last Update: 12/10 UMBS 30YR 5.0 100.50 +0.37   95.05 100.50 UMBS 30YR 5.5 101.64 +0.02   97.47 101.64 10 YR Treasury 4.171 -0.001   3.932 4.780 What's Up With The New MBS Buying Announcement and The Massive Reaction in The Market? Fri, Jan 9, 2026 11:12AM On Thursday afternoon with less than an hour left to trade, Trump announced he would be directing his representatives to buy $200bln in mortgage-backed securities (MBS). No matter what one's personal opinions may be regarding bold announcements from the President, this one is definitely serious. How do we know?   First off, if you don't want to app... (read more) Fairly Tame Jobs Report, MBS Have Magic Armor Either Way Fri, Jan 9, 2026 8:40AM The jobs report came out mixed with payrolls falling 10k short of the 60k forecast and the unemployment rate ticking down to 4.4% vs a 4.5% forecast. The unemployment rate decline is mitigated somewhat by the decline in labor force participation.  All in all, this is not a lopsided report with any chance of sparking a rapid move in bonds.  That sai... (read more) MBS Price Change UMBS 4.5 98.54 +0.96 UMBS 5.0 100.50 +0.37 UMBS 5.5 101.64 +0.02 GNMA 4.5 98.19 +0.70 GNMA 5.0 100.20 +0.24 GNMA 5.5 101.25 +0.14 Pricing as of: 1/10 2:12AM EST US Treasury Yield Change 2 YR Treasury 3.528 +0.042 5 YR Treasury 3.751 +0.014 7 YR Treasury 3.953 +0.012 10 YR Treasury 4.171 -0.001 30 YR Treasury 4.815 -0.024 Pricing as of: 1/10 2:12AM EST Other News PHH Webinar Series; Agencies to Buy One Month's Worth of Production - Similar to 2020; In-Person Events for 2026 Fri, Jan 9, 2026 11:10AM A frequent topic in this Commentary is how lenders are responsible for only a small portion of the affordability issue. A big hit to affordability is insurance, and thank you to Kevin K. for passing along this story focused on fire resilience and home upgrades and how they may address insurance costs. Trying to plan for natural events is a full-time job that... (read more) Latest Video U.S. payrolls rose 50,000 in December, less than expected; unemployment rat... Job openings stand at 7.1 million in November Wholesale inventories climb 0.2% in October, as expected Private payrolls rose 41,000 in December, slightly below expectations, ADP ... Around the Web CNBC Here's what's happening now with mortgage rates after Trump posts on housing CNBC U.S. payrolls rose 50,000 in December, less than expected; unemployment rate falls to 4.4% Eye on Housing Job Growth Slowed as 2025 Ended Realtor.com New-Home Construction Falls to Post-Pandemic Low Marketwatch Consumer sentiment improves on signs of 'modest improvement' in economy Reuters US single-family housing starts rebound in October, building permits dip Calculated Risk Blog Comments on December Employment Report Eye on Housing Consumer Confidence Dropped to Lowest since Tariffs Introduced CNBC Treasury yields little changed as investors await key jobs report, potential tariff ruling CNBC Used vehicle pricing expected to increase 2% in 2026, a historically stable rate Calculated Risk Blog Housing Starts Decreased to 1.246 million Annual Rate in October CNBC Consumer outlook improves despite job worries, New York Fed survey finds Eye on Housing Gains for Student Housing Construction in the Third Quarter of 2025

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