Wed, Apr 29 2026, 2:00 PM
Available Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, on average, and the un...
Wed, Apr 29 2026, 9:31 AM
Last night's key news on the war involved reports of Trump telling aides to prepare for a prolonged blockade of Iran. The free flow of oil through Hor...
Tue, Apr 28 2026, 4:15 PM
Modest Gains After Opening Weaker
Tuesday ended up being a uneventful trading session despite 10yr yields hi...
Tue, Apr 28 2026, 3:32 PM
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 o...
Tue, Apr 28 2026, 10:27 AM
Bonds sold off slowly and steadily overnight, largely tracing a similarly steady rise in oil prices. The latter is most easily attributed to reports t...
Mon, Apr 27 2026, 3:51 PM
Modest Weakness, But Range Persists
Bonds lost ground today, but not for any particular reason. Most importa...
Mon, Apr 27 2026, 3:21 PM
Despite the elevated volatility risk heading into the weekend, mortgage rates are starting the week in exactly the same territory compared to Friday a...
Mon, Apr 27 2026, 9:44 AM
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 ...
Fri, Apr 24 2026, 4:02 PM
Similar Volatility But in a Friendlier Direction
The bond market saw a roughly identical amount of volatilit...
Fri, Apr 24 2026, 3:31 PM
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 bac...
Fri, Apr 24 2026, 9:18 AM
Markets were largely flat overnight but volatility picked up just after 7am ET after headlines suggested US/Iran negotiations could resume as early as...
Thu, Apr 23 2026, 4:43 PM
Volatility Picked Up Despite Lackluster News Quality
It's not exactly a new problem, but the issue of incorr...
Thu, Apr 23 2026, 2:41 PM
Thursday saw a continuation of the recent trend of very low volatility for mortgage rates. The average lender's top-tier 30yr fixed rates were perfect...
Thu, Apr 23 2026, 9:14 AM
Bonds were almost perfectly flat in the overnight session with yields holding inside a 1.5bp range. Oil prices rose initially, but recovered before th...
Wed, Apr 22 2026, 4:09 PM
Uncertainty Extended Indefinitely
Heading into last night's ceasefire expiration, there was a sense that the...
Wed, Apr 22 2026, 3:22 PM
Rates remain focused on oil prices and war-related developments. With yesterday's ceasefire extension and today's ambiguity over the time frame of tha...
Wed, Apr 22 2026, 10:11 AM
As a testament to just how confident the market is/was that neither side is overly interested in escalating the Iran war, Tuesday night's ceasefire de...
Tue, Apr 21 2026, 3:49 PM
Ceasefire Uncertainty Adds to Losses
Bonds were just a bit weaker this morning after the weekly ADP data. Ju...
Tue, Apr 21 2026, 2:49 PM
Technically and officially, today's average top tier 30yr fixed mortgage rate is the highest since last Monday. The catch is that there hasn't been mu...
Tue, Apr 21 2026, 9:03 AM
Heading into the day, the 8:30am Retail Sales data was the obvious pick among the available economic reports to be a potential market mover. Reality h...
Mon, Apr 20 2026, 4:24 PM
Bonds Only Modestly Weaker After New Escalation Over The Weekend
Bonds/oil/stocks saw a small corrective bou...
Mon, Apr 20 2026, 3:21 PM
Despite some initial signs of volatility in financial markets over the weekend, the bond market managed to avoid losing much ground. Because bonds dic...
Mon, Apr 20 2026, 9:34 AM
Heading into the weekend, all indications were about as promising as they have been that the war was heading toward a peaceful conclusion. This was re...
Fri, Apr 17 2026, 4:29 PM
AM Gains Mostly Stick Around
Everything interesting about today occurred before 9am ET (several war-related ...
Fri, Apr 17 2026, 4:06 PM
Today was a victory for mortgage rates, but not nearly as much of a victory as the underlying bond market would suggest. The good news is that the end...
Fri, Apr 17 2026, 9:20 AM
Bonds were modestly and inconsequentially stronger in the overnight session. By 8am, this brought 10yr yields just under 4.30%. Less than an hour lat...
Thu, Apr 16 2026, 4:26 PM
Volatility Picked Up After a Slow Start
This morning, more than halfway through the international trading da...
Thu, Apr 16 2026, 3:52 PM
On average, today's top-tier 30 year fixed mortgage rates are exactly the same as yesterday's. Rates are driven by the bond market and bonds continue ...
Thu, Apr 16 2026, 9:33 AM
Thursday has thus far been the slowest and most sideways day since February 24th, before the start of the Iran war. A lull in war-related developments...
Wed, Apr 15 2026, 3:59 PM
Very Small Token Pull-Back
Nothing really happened on Wednesday as far as the bond market was concerned. Yie...
Wed, Apr 15 2026, 3:20 PM
On Tuesday, the average top-tier 30yr fixed mortgage rate hit the lowest level in exactly 4 weeks. If you're not interested in splitting hairs, today'...
Wed, Apr 15 2026, 10:34 AM
Markets have plenty of war-related headlines to digest at any given moment these days. And while some of those headlines have been the biggest market ...
Tue, Apr 14 2026, 4:27 PM
Bonds Ultimately Follow Oil's Lead, Heading Lower War-Related Optimism
While there were no incredibly memora...
Tue, Apr 14 2026, 3:23 PM
Mortgage rates had their best day of the month so far with the top tier 30yr fixed rate falling 0.08% for the average lender to the lowest levels in e...
Tue, Apr 14 2026, 10:29 AM
Bonds were fairly flat overnight and haven't moved much so far in the domestic session. More importantly, until 7am, bonds were slightly weaker even a...
Mon, Apr 13 2026, 4:08 PM
Weekend Selling Reverses After Another Round of De-Escalation Headlines
Another day, another chance to sort ...
Mon, Apr 13 2026, 3:30 PM
Mortgage rates are based on movement in the bond market and although bonds experienced some volatility in response to Iran war news over the weekend, ...
Mon, Apr 13 2026, 10:22 AM
Heading into the weekend, the big news was that the U.S. and Iran would meet in Pakistan to negotiate a peace deal. But by Sunday morning, the talks h...
Fri, Apr 10 2026, 4:22 PM
Bonds Drift Weaker Despite Lower Oil Prices
Although they still technically made positive progress versus th...
Fri, Apr 10 2026, 1:44 PM
If we're splitting hairs, today's average mortgage rates are technically higher than yesterday's, but the change is so small that it's just as fair to...
Fri, Apr 10 2026, 9:06 AM
The median forecast for monthly core CPI was 0.28% (0.3 after rounding up for most econ calendars). Today's actual number was 0.196--obviously quite a...
Thu, Apr 9 2026, 3:55 PM
Roughly Unchanged After Moderate Headline-Driven Volatility
As has been the recent custom, there were duelin...
Thu, Apr 9 2026, 3:25 PM
Many borrowers will see no difference between yesterday and today's mortgage rate quotes. The average lender moved just a hair lower. Once again, the...
Thu, Apr 9 2026, 9:08 AM
The overnight session leading into this morning's open was completely sideways--especially compared to yesterday's example. The boatload of econ data ...
Wed, Apr 8 2026, 4:33 PM
Bonds Lose Almost All The Overnight Gains
Bonds rallied sharply overnight--adding onto an already decent ral...
Wed, Apr 8 2026, 3:27 PM
It's a fluid situation in financial markets on Wednesday. The 2-week ceasefire in the Iran war caused a big reaction last night, but the benefit to th...
Wed, Apr 8 2026, 9:06 AM
The wheels were already in motion by the time yesterday's recap came out, and participants in the MBS Live chat room were already high-fiving as we wa...
Tue, Apr 7 2026, 4:39 PM
Wednesday Could Be Entirely Different
April 7th has been one of the most important days on the calendar for ...
Tue, Apr 7 2026, 3:14 PM
In stark contrast to the entire month of March, April's mortgage rate volatility has been downright boring. To put this in context, the average top ti...
Tue, Apr 7 2026, 9:34 AM
Tonight brings 8pm ET deadline for Iran's response to U.S. demands (opening shipping channels among other things). If there's no response, Trump has t...
