http://www.mortgagenewsdaily.com/ Mortgage News Daily https://www.mortgagenewsdaily.com/markets/mbs-recap-04282026 Tue, 28 Apr 2026 20:15:40 GMT 69f12390a6791958c5a432a9 Matthew Graham Modest Gains After Opening Weaker Tuesday ended up being a uneventful trading session despite 10yr yields hitting 3-week highs. Those highs were in place right at the open and things gradually improved from there. Markets are expressing a token amount of concern over the lack of progress on US/Iran peace, which  continues to be the biggest potential market mover. Notably, there was also an obvious reaction to Consumer Confidence data today (even though it was very small). This lets us know we can't tune out other econ data just because the broader momentum is more likely tied to geopolitical developments.  Econ Data / Events ADP Employment Change Weekly 39.25K vs -- f'cast, 54.75K prev Case Shiller Home Prices-20 y/y (Feb) 0.9% vs 1.1% f'cast, 1.2% prev CaseShiller 20 mm nsa (Feb) 0.4% vs -- f'cast, -0.1% prev FHFA Home Price Index m/m (Feb) 0.0% vs 0.2% f'cast, 0.1% prev FHFA Home Prices y/y (Feb) 1.7% vs -- f'cast, 1.6% prev Consumer Confidence 92.8 vs 89.0 f'cast, 92.2 prev Market Movement Recap 09:14 AM Modestly weaker overnight. 10yr up 2bps at 4.362 and MBS down 3 ticks (.09). 11:07 AM MBS down an eighth and 10yr up 1.8bps at 4.359 02:29 PM MBS down an eighth and 10yr up 1.5bps at 4.357. No reaction to 7 year auction Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mortgage-rates-04282026 Tue, 28 Apr 2026 19:32:00 GMT 69f10e1a80727c719af87362 Matthew Graham Mortgage rates moved moderately higher today for the average lender, but not for any exciting reasons. Rather, the change has more to do with timing of the underlying market movement. While it's true that mortgage rates are directly influenced by the bond market, mortgage lenders prefer to set rates once per day. From there, they will occasionally make adjustments if the bond market experiences enough volatility. The catch is that lenders are less likely to adjust rates the later it is in the afternoon and if the bond market has been changing steadily/gradually. With all that in mind, yesterday saw a steady, gradual decline in the bond market that persisted into the late afternoon. As such, most lenders didn't go to the trouble of adjusting rates yesterday. In other words, the average lender was already planning on raising rates a bit this morning even if the bond market started the day flat. But bonds lost even more ground this morning (before lenders decided on rates for the day). Bottom line, lenders were tasked with adjusting for 2 days of modest weakness all at once. The result is a move that is bigger than the average recent day, but not because the underlying market movement was bigger or more volatile than average. [thirtyyearmortgagerates] Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/opinion/pipelinepress-04282026 Tue, 28 Apr 2026 15:29:31 GMT 69f0a77eee0de4ac32ffcac0 Rob Chrisman The big keep getting bigger: Real Brokerage announced that it is purchasing RE/MAX for $550 million, revealing that, including debt, the deal is worth an estimated $880 million. The name will be the Real REMAX Group (“a transformative opportunity to fuse REMAX’s strong brand equity with leading AI technology”) and it’s been reported that Motto Mortgage, owned by RE/MAX, will retain its current business model of a mortgage brokerage franchisor following the completion of this deal. REMAX doesn’t belong to the National Association of Realtors, although “they” say that 87 percent of real estate agents are NAR members. NAR tells us that 63 percent of its members are female. There are agents who are part-time license holders, people who got licensed but never entered the business, and even agents on a team where all deals are closed under the team leader. The 2025 NAR Member Profile paints a different picture. Among REALTORS® specializing in residential sales, only 5 percent reported zero transaction sides in 2024, the typical Realtor completed 10 transaction sides, and Realtors with two years or less experience reported a median of 3 transactions. LOs should be careful who they call on! (Today’s podcast can be found here and this week’s ‘casts are sponsored by Figure, which is shaking up the lending world with their five-day HELOC, offering borrower approvals in as little as five minutes and funding in five days. Figure has hundreds of partners in the Banking, Credit Union, Home Improvement, and of course, IMB space embedding their technology. Today’s has an interview with Seroka’s John Seroka on how brands are discovered by prioritizing credible, structured, and widely validated information over traditional SEO, making it critical for companies to build consistent digital authority and trust signals.) Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mbs-morning-04282026 Tue, 28 Apr 2026 14:27:05 GMT 69f0d2b4a6791958c5a38c10 Matthew Graham Bonds sold off slowly and steadily overnight, largely tracing a similarly steady rise in oil prices. The latter is most easily attributed to reports that Trump is not happy with the latest Iran peace proposal although those reports stopped short of saying the proposal was flat-out rejected. There was additional volatility in oil prices surrounding news that the UAE is pulling out of OPEC, but that mostly resolved with oil moving off the highs (more competition, less supply throttling expected). Most recently a decent showing in Consumer Confidence is keeping bonds in a defensive stance. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mbs-recap-04272026 Mon, 27 Apr 2026 19:51:47 GMT 69efcd60a6791958c5a1a537 Matthew Graham Modest Weakness, But Range Persists Bonds lost ground today, but not for any particular reason. Most importantly, there was no major reaction to the lack of progress in peace talks over the weekend (which would have been hard considering the talks didn't happen). Earlier in the war, this sort of development would have had a more noticeable impact. At this point, markets are waiting on the biggest news. Until that news breaks, bonds are content to wander aimlessly in the same sideways range that's been intact for the entire month. For those who insist on assigning blame for today's modestly higher yields, the absence of peace talks was worth maybe a third of it. Beyond that, we'd consider things like the Treasury auction cycle and asset allocation among investors chasing all-time highs in stocks.  Market Movement Recap 09:13 AM Bonds modestly weaker on stalled peace talks. 10yr up 1.4bps at 4.317 and MBS down 3 ticks (.09). 11:48 AM MBS down 5 ticks (.16) on the day and an eight from the highs. 10yr up 2.6bps at 4.329 02:22 PM 10yr up 3.3bps at 4.335 and MBS still down 5 ticks (.16) Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mortgage-rates-04272026 Mon, 27 Apr 2026 19:21:00 GMT 69efb8d43b258adc6dac24d3 Matthew Graham Despite the elevated volatility risk heading into the weekend, mortgage rates are starting the week in exactly the same territory compared to Friday afternoon. As always, our rate tracking refers to top-tier 30-year fixed rates for the average lender. The absence of meaningful movement in the underlying bond market is a testament to an increasingly high bar of relevance for war-related news. Specifically, the Iran war is the main source of inspiration not only for oil prices, but also for the bonds that dictate interest rates.  Earlier in the war, almost any headline had a visible impact on bonds. But now it's only the most significant developments. Those are harder to come by in late April as investors are basically waiting for either an official and permanent ceasefire, or a catastrophic re-escalation. Anything in between has proven to be fairly uninteresting when it comes to bond market influence. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/opinion/pipelinepress-04272026 Mon, 27 Apr 2026 15:47:15 GMT 69ef5a07cb5dcfb5bb666fe4 Rob Chrisman What happens if labor or materials become too expensive here in the United States? Despite the move toward rejuvenating the manufacturing-based economy in the United States by the current Administration, people will follow the money and go elsewhere, whether it be dental work, hair transplants, or… manufactured housing. With the high cost of home construction, more Americans are becoming curious about working with Chinese suppliers on their renovations. The price of home construction materials in the United States increased by 3 percent from last year, according to the National Association of Home Builders. And since 27 percent of those materials came from China (in 2023), some US homebuilders are thinking of skipping the middleman like Home Depot and local contractors. (Today’s podcast can be found here and this week’s ‘casts are sponsored by Figure, which is shaking up the lending world with their five-day HELOC, offering borrower approvals in as little as five minutes and funding in five days. Figure has hundreds of partners in the Banking, Credit Union, Home Improvement, and of course, IMB space embedding their technology. Today’s has an interview with WSFS Bank’s Jeffrey Ruben on how homeowners can strategically tap their equity while navigating today’s rate environment, avoiding common renovation financing pitfalls, and understanding why many are calling this the “golden age” of HELOCs.) Lender and Broker Products and Services Your workflow is already built. Your systems are already in place. Your credit reporting partner should support that. Advantage Partners Solutions gives you access to two platforms: Credit Interlink and MeridianLink Mortgage Credit Link. Both are fully supported by the same team. You choose the platform that fits your loan origination system. Your process stays intact. Your team keeps moving. No disruption. No retraining cycles. No forced transitions. This is an industry-first kind of structure that aligns to your operation and scales with your production volume. It allows your team to maintain momentum while gaining the support of a partner who understands your environment. See how this fits inside your operation and how both platforms support your workflow without interruption. Review your setup and compare it to a model designed to adapt to you and move forward with clarity: Schedule an intro today. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mbs-morning-04272026 Mon, 27 Apr 2026 13:44:14 GMT 69ef76a8a6791958c5a0f5aa Matthew Graham The word of the day is "stalled." You can't get far reading top news stories over the weekend without seeing it in reference to the negotiations that looked at least somewhat possible on Friday afternoon. At that time, official word was that Witkoff/Kushner were heading to Pakistan on Saturday morning to meet with Iran's FM Araghchi, but the US contingent never made the trek. Now this morning there are additional reports that a resumption of military operations is being considered. One would think this would make for a big hit to financial markets, but oil prices and bond yields are only modestly higher. And stocks are actually in slightly stronger territory, once again pushing new all-time highs. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mbs-recap-04242026 Fri, 24 Apr 2026 20:02:59 GMT 69ebdb38a6791958c59c115d Matthew Graham Similar Volatility But in a Friendlier Direction The bond market saw a roughly identical amount of volatility on each of the last 2 days of the week, but Friday's version played out in a friendlier direction. Headlines suggested improved prospects of peace negotiations over the weekend. While there is no scheduled talk with the US and Iran, high level reps from both sides are currently--or soon will be--in Pakistan. But the war headlines only get part of the credit. Bonds also got a boost from news that the DOJ dropped its case against Powell, thus paving the way for a Warsh confirmation. In the market's view, this improves the odds of a rate cut in 2026, even if only slightly.  2yr yields rallied much more than 10s, as one would expect when markets are trading Fed rate expectations.  Market Movement Recap 08:49 AM Roughly unchanged after modest 2-way volatility. MBS up 2 ticks (.06) and 10yr down 0.4bps at 4.321 09:40 AM moving into weaker territory. MBS down 1 tick (.03) on the day and over an eighth from the early price plateau. 10yr up 1.3bps at 4.338 10:19 AM 10yr at lows of day, down 2.2bps at 4.303. MBS up 6 ticks (.19). Move follows new of DOJ potentially dropping Powell case 01:19 PM Mostly sideways since last update. MBS up an eighth and 10yr down 1.5bps at 4.311 Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full https://www.mortgagenewsdaily.com/markets/mortgage-rates-04242026 Fri, 24 Apr 2026 19:31:00 GMT 69ebc6ebff116b9e9dc940e3 Matthew Graham With zero change versus Thursday's latest levels, the 30yr fixed mortgage rate index maintained a 0.03% range for the entire week (and 0.04% going back to last Tuesday). At 6.32%, today's mark is close enough to Friday's 6.29% to say rates are hovering at the lowest levels in more than a month. The sideways drift reflects uncertainty surrounding the next phase in the Iran war. Prospects for negotiations were called into question for most of the week, but improved somewhat on Friday. A successful end to the war would likely bring some additional improvement for rates, but the true test would be the longer-term realities for oil prices and their impact on inflation. The week ahead brings the next Fed announcement. Markets are pricing in a zero percent chance of a cut or a hike. The Fed's rate cutting hands are tied until/unless inflation moves back down and they won't preemptively assume that will happen until post-war oil price dynamics play out for a few months. Mortgage News Daily 0 http://www.mortgagenewsdaily.com/rss/full