Traders Buy The Dip After AM Data After a bit of overnight strength and an early morning pull-back, bonds were right in line with yesterday afternoon's levels ahead of the 10am data.  JOLTS (job openings) pushed yields back to yesterday's highs--perhaps with some help from the Senate's passage of the spending bill, but at that point, traders bought the dip in bond prices and pushed back into the day's range.  It wasn't enough to get back to positive territory, but it made the day less of an obvious turning point in the bigger-picture.  Perhaps a better way to say it would be that bonds still look open-minded when it comes to responding to Thursday's jobs report and next week's CPI. Econ Data / Events S&P Manufacturing PMI 52.9 vs 52.0 f'cast, 52.0 prev ISM Manufacturing 49.0 vs 48.8 f'cast, 48.5 prev ISM Employment 45.0 vs 47.0 f'cast, 46.8 prev ISM Prices 69.7 vs 69 f'cast Job Openings 7.769m vs 7.300m f'cast, 7.395m prev Market Movement Recap 10:34 AM slightly stronger overnight, but progressively weaker in the AM--especially after 10am econ data.  MBS down 7 ticks (.22) and 10yr up 3.2bps at 4.256 12:01 PM 10yr yields are up 5bp at 4.273.  MBS down a quarter point. 02:59 PM Modest recovery.  MBS down only 5 ticks (.16) now.  10yr up 2.5bps at 4.25

July 1, 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 Jul 1, 2025 Mortgage Rates Hold Steady at 3 Month Lows Tue, Jul 1, 2025 3:09PM It's been 88 days since the average 30yr fixed mortgage rate was as low as it is today--close enough to 3 months.  Some lenders may be higher or lower than they were yesterday depending on whether or not changed rates yesterday afternoon. Mortgage lenders prefer to set rates once per day, but can "reprice" if the underlying bond market moves enough in one direction or the other. Bonds improved enough yesterday afternoon for many lenders to offer slightly lower rates.  Those lenders are a hair higher today, generally.   In terms of the underlying bond market, things are ju... (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 Traders Buy The Dip After AM Data Tue, Jul 1, 2025 4:06PM Traders Buy The Dip After AM Data After a bit of overnight strength and an early morning pull-back, bonds were right in line with yesterday afternoon's levels ahead of the 10am data.  JOLTS (job openings) pushed yields back to yesterday's highs--perhaps with some help from the Senate's passage of the spending bi... (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 10:25AM 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 10:25AM EST Other News FICO Simulation, Georgia Servicing, Recapture Tools; What LOs Should Be Doing Now; Deficits and the New Tax Bill Tue, Jul 1, 2025 11:50AM “Life is like a roll of toilet paper: The closer you get to the end, the faster it goes.” Just like that, 2025 is half over. With it have come changes at the GSEs, government loan programs, and the compliance landscape. In his latest edition of Mortgage Musings, Attorney Brian Levy offers insights on the trigger lead bill(s) and the challenges faced by DC tr... (read more) Latest Video Final vote on President Trump's 'big beautiful bill' expected today Bessent: January Fed board appointee could eventually become chair ISM manufacturing PMI surprises to upside Banks rise on regulatory hopes Around the Web Marketwatch Senate passes Trump's big bill. Here's where things stand on Medicaid and taxes as it goes to the House Investing.com JOLTs job openings surge, beating forecasts and previous numbers Marketwatch June jobs report could decide the next Fed interest-rate cut. Here's why. PR Newswire Manufacturing PMI at 49% Calculated Risk Blog Fannie and Freddie: Single Family Serious Delinquency Rates Decreased in May; Fannie Multi-Family Delinquency Rate Near Highest Since Jan 2011 (ex-Pandemic) CNBC 10-year Treasury yield falls as investors eye jobs report Eye on Housing Flat Job Openings for Construction CNBC Watch Fed chief Jerome Powell speak at an ECB panel in Portugal Calculated Risk Blog FHFAs National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores Calculated Risk Blog Freddie Mac House Price Index Declined in May; Up 2.2% Year-over-year Calculated Risk Blog Housing June 30th Weekly Update: Inventory up 0.3% Week-over-week, Up 28.7% Year-over-year Eye on Housing 2024 New Single-Family Starts by Census Division CNBC Bank of England chief sees downward interest rate trend as UK hunts for growth

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