Month End Buying Pushes Back on Mid-Day Weakness Bonds began the day in stronger territory as investors  reacted to weekend tariff news with a risk-off move.  Stocks bounced shortly after the NYSE open and bond yields were pulled higher in concert.  That prevailing correlation broke down around 3pm due to month/quarter end bond buying (3pm is the official close for bonds, even though trading continues until 5pm). There was no major reaction to econ data or Fed speakers today.  The data becomes more relevant in the coming days.  Econ Data / Events Chicago PMI 47.6 vs 45.2 f'cast, 45.5 prev Market Movement Recap 09:54 AM Stronger overnight as stocks continue tanking.  MBS up 3 ticks (.09) and 10yr down 2.7bps at 4.208 11:30 AM Weakest levels of the day. MBS nearly unchanged and 10yr still down 1.3bps at 4.223 03:10 PM Some month/quarter end buying at 3pm helping a modest recovery.  10yr down 0.3bps at 4.232.  MBS unchanged. 

March 31, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Mar 31, 2025 Mortgage Rates Inch Lower, But Remain Broadly Sideways Mon, Mar 31, 2025 3:30PM "Sideways" has been the dominant theme for mortgage rates for well over a month now. The average top tier 30yr fixed rate fell below 6.82% on February 25th, and moved down to 6.70% the following week.  We haven't been outside of that range since then. Today was just another day in that regard, or perhaps even a prime example considering it was smack dab in the middle of that range.  While it's not always apparent by the time mortgage lenders set rates for the day, the underlying bond market continues experiencing volatility behind the scenes. Recently, that volatility often aligns ... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Month End Buying Pushes Back on Mid-Day Weakness Mon, Mar 31, 2025 3:48PM Month End Buying Pushes Back on Mid-Day Weakness Bonds began the day in stronger territory as investors  reacted to weekend tariff news with a risk-off move.  Stocks bounced shortly after the NYSE open and bond yields were pulled higher in concert.  That prevailing correlation broke down around 3pm due... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 3:03AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 3:03AM EST Other News Non-QM Products; Rocket/Mr. Cooper Deal; Disaster and Climate News; Tariff Impact Looms Mon, Mar 31, 2025 11:48AM It’s been three years since Credit Plus re-branded as Xactus, and now another name brand in the mortgage world has a new name. Corelogic has become Cotality, leading to plenty of puns like, “If First American ever considers rebranding, let's hope they don't use the same agency as Corelogic, as then we'd have... Fatality.” In other current events, I received,... (read more) Latest Video The Fed's next cut likely to be based on a weakening labor market, says Mac... Rocket Companies CEO: We want to create frictionless experience around home... March Chicago PMI 47.6 vs. 43.6 estimated Retail sales are likely to bounce back in April and May, says Ed Yardeni Around the Web Eye on Housing Affordability Pyramid Shows 94 Million Households Cannot Buy a $400,000 Home Seeking Alpha Chicago PMI rises more than expected in March Calculated Risk Blog Housing March 31st Weekly Update: Inventory up 1.1% Week-over-week, Up 30.6% Year-over-year Calculated Risk Blog Freddie Mac House Price Index Increased in February; Up 3.4% Year-over-year The Basis Point Rocket buying Mr. Cooper for $9.4b creates largest U.S. mortgage shop by far CNBC First-quarter GDP growth will be just 0.3% as tariffs stoke stagflation conditions, says CNBC survey CNBC Late student loan bills can drop credit scores by up to 171 points, Federal Reserve warns CNBC Treasury yields fall as investors brace for Trump tariffs, key jobs data in week ahead CNBC Core inflation in February hits 2.8%, hotter than expected; income jumps 0.8% Calculated Risk Blog Q1 GDP Tracking: -0.5% to 1% CNBC German inflation eases to 2.3% in March, slightly lower than expected CNBC Consumer sentiment worsens as inflation fears grow, University of Michigan survey shows Calculated Risk Blog Personal Income increased 0.8% in February; Spending increased 0.4%

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