Mortgage rates may be based directly on the bond market, but the two don't always move in perfect lock-step. Today was a good example of that. Bonds improved enough for rates to move modestly lower according to typical correlation. Instead, the average mortgage lender improved by the smallest possible amount that we register on our daily rate index. When this happens, it's often able to be explained by the timing of intraday volatility in the bond market and that's generally the case this time around.  Simply put, yesterday morning's best levels lined up with this morning's weakest levels even though the bulk of today's trading took place in moderately stronger territory. There was no major intraday volatility tied to any news headlines or economic reports. Tomorrow is also fairly quiet on the scheduled data front, but the calendar heats up a bit on Thursday morning. 

June 23, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.65% -0.01%   5.99% 6.85% 15 Yr. Fixed 6.19% -0.01%   5.55% 6.25% 30 Yr. Jumbo 6.85% +0.00%   6.1% 6.94% Compare Mortgage Rates from Local Lenders for Jun 23, 2026 Rates Hold Mostly Steady Despite Bond Market Improvement Tue, Jun 23, 2026 3:31PM Mortgage rates may be based directly on the bond market, but the two don't always move in perfect lock-step. Today was a good example of that. Bonds improved enough for rates to move modestly lower according to typical correlation. Instead, the average mortgage lender improved by the smallest possible amount that we register on our daily rate index. When this happens, it's often able to be explained by the timing of intraday volatility in the bond market and that's generally the case this time around.  Simply put, yesterday morning's best levels lined up with this morning's weakest level... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.65% -0.01 0.00 15 Yr. Fixed 6.19% -0.01 0.00 30 Yr. FHA 6.23% -0.02 0.00 30 Yr. Jumbo 6.85% 0.00 0.00 7/6 SOFR ARM 6.37% -0.05 0.00 30 Yr. VA 6.25% -0.01 0.00 Updates Daily - Last Update: 6/23 Freddie Mac Rate Change Points 30 Yr. Fixed 6.47% -0.05 0.00 15 Yr. Fixed 5.81% -0.03 0.00 Updates Weekly - Last Update: 6/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.60% 0.00 0.63 15 Yr. Fixed 6.02% +0.03 0.65 30 Yr. Jumbo 6.62% -0.04 0.57 Updates Weekly - Last Update: 6/17 UMBS 30YR 5.0 98.34 +0.36   96.76 100.50 UMBS 30YR 5.5 100.34 +0.24   98.96 101.64 10 YR Treasury 4.433 -0.066   3.948 4.668 Re-Coupling and Range Consolidation Tue, Jun 23, 2026 9:58AM Yesterday's most interesting development was the visible decoupling of bond yields with oil prices. To a lesser extent, one could also lament that mid-morning stock selling failed to benefit bonds, but that's far from a regular correlation these days. In fact, the stock/bond correlation is often reversed when the market is adjusting Fed rate expectations. To... (read more) MBS Price Change UMBS 4.5 96.07 +0.50 UMBS 5.0 98.38 +0.40 UMBS 5.5 100.37 +0.28 GNMA 4.5 96.12 +0.34 GNMA 5.0 98.67 +0.32 GNMA 5.5 100.49 +0.23 Pricing as of: 6/24 10:45AM EST US Treasury Yield Change 2 YR Treasury 4.150 -0.049 5 YR Treasury 4.201 -0.069 7 YR Treasury 4.301 -0.074 10 YR Treasury 4.421 -0.077 30 YR Treasury 4.869 -0.077 Pricing as of: 6/24 10:45AM EST Other News HELOC, Verification Products; AI Gap; Housing Bill Advances; JPMorganChase on Affordability Tue, Jun 23, 2026 11:44AM Yesterday I published a link to Pennymac Policy Pulse, a newsletter tracking key federal policy developments shaping the housing market and broader U.S. economy. The link went to an old version; above is the link to the most current. (Today’s podcast can be found here and this week’s ‘casts are sponsored by Equifax, a global data, analytics, and technology c... (read more) Latest Video Watch CNBC's full interview with White House National Economic Council Dire... How the U.S.-Iran deal could affect gas prices and interest rates Fed Chairman Kevin Warsh: We will review our communications broadly Fed Chairman Warsh: Appointing a task force in five areas central to conduc... Around the Web CNBC Factory job cuts reported around financial crisis and Covid levels for June, S&P says BLS Producer Price Index up 6.5 percent over year ending May 2026 Realtor.com Senate Passes Major Bipartisan Housing Bill, Setting Stage for Final House Vote CNBC Atlanta Fed pick emerges as key opportunity for Warsh to reshape the central bank Investing Live US treasury so $69 billion of two-year notes at a high yield of 4.189% Reuters Fed's Goolsbee says labor market stable, inflation going the wrong way CNBC Senate poised to advance housing bill to limit private equity purchases of single-family homes ADP ADP National Employment Report Preliminary Estimate for June 6, 2026 Eye on Housing Structural Demand Outpacing Supply: Jobs-to-Permits Ratios Highlight Housing Gap Federal Reserve FEDS Paper: Beyond Reserves: The Federal Reserve's BalanceSheet and the Repo Market Investing Live US June S&P Global flash services PMI 51.3 vs 51.0 CNBC Treasury yields fall despite rate hike concerns hitting tech stocks CNBC Treasury Department authorizes Iranian oil sales under 60-day license

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