Correction Continues Despite Tariff Announcements Bonds were moderately weaker to start the day and continued losing ground in the AM hours.  Just after noon, new tariff announcements caused a surge of selling in stocks. There was initially some buying in bonds, but not much, and not for long. Tariffs are a double-edge sword for bonds, as we've seen on several occasions over the past few months and today's version was well balanced, ultimately leaving 10yr yields at similar levels before and after the news. Today's weakness adds to the multi-day correction that began last Wednesday and accelerated after Thursday's jobs report. Bond buyers may remain hesitant until getting through more of this week's Treasury auction cycle. Market Movement Recap 09:57 AM Modestly weaker overnight with MBS down less than an eighth and 10yr up 2bps at 4.367 11:09 AM Steady weakness continues.  MBS now down 5 ticks (.16) and 10yr up 3.4bps at 4.38 02:16 PM Holding sideways near weakest levels in the PM hours.  MBS down 5 ticks (.16) and 10yr up 4.6bps at 4.392 04:03 PM Still sideways near weakest levels.  MBS down 6 ticks (.19) and 10yr up 4bps at 4.387

July 7, 2025 Download our Mobile App: Download our Mobile App: MBS Commentary Correction Continues Despite Tariff Announcements Correction Continues Despite Tariff Announcements Bonds were moderately weaker to start the day and continued losing ground in the AM hours.  Just after noon, new tariff announcements caused a surge of s... (read more) Mortgage Rate Watch Mortgage Rates Continue Higher For Third Straight Day For the entire 2nd half of June, it was easy to be spoiled by the absence of volatility in mortgage rates. During that time, rates were either lower or unchanged every single day. The past few business days have been a different story. This began la... (read more) Rob Chrisman Fee Collection, HELOC Products; Webinars and Training This Week; Disaster and FEMA Updates The nation is gripped with the flooding in Texas, the loss of human life and property, and how best to prevent future similar occurrences given the increase in the severity of weather. (Fairway Independent has already donated $1 million to recovery e... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.85% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.85% +0.02 0.00 15 Yr. Fixed 6.07% +0.04 0.00 30 Yr. FHA 6.40% +0.03 0.00 30 Yr. Jumbo 6.92% +0.02 0.00 7/6 SOFR ARM 6.25% -0.02 0.00 30 Yr. VA 6.41% +0.02 0.00 Updates Daily - Last Update: 7/15 15 Yr. Fixed Rate 6.07% +0.04% Rate Change Points Freddie Mac 30 Yr. Fixed 6.72% +0.05 0.00 15 Yr. Fixed 5.86% +0.06 0.00 Updates Weekly - Last Update: 7/10 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.77% -0.02 0.62 15 Yr. Fixed 6.04% -0.02 0.63 30 Yr. Jumbo 6.69% -0.09 0.65 Updates Weekly - Last Update: 7/9 MBS / Treasuries UMBS 30YR 5.5 98.92 -0.25 Price / Yield Change MBS UMBS 5.5 98.91 -0.01 UMBS 6.0 100.95 -0.01 GNMA 5.5 99.34 -0.02 GNMA 6.0 101.16 +0.00 Pricing as of: 7/15 9:16PM EST 10 Year US Treasury 4.4924 +0.0571 Price / Yield Change US Treasury 2 YR Treasury 3.950 +0.000 5 YR Treasury 4.050 +0.010 7 YR Treasury 4.260 +0.009 10 YR Treasury 4.492 +0.008 30 YR Treasury 5.027 +0.002 Pricing as of: 7/15 9:16PM EST Latest Video Consumer demand for homes has outpaced their wallets, says Howard Hughes Ho... President Trump announces 25% tariffs on Japan and South Korea starting Aug... Deficit issues may appear elsewhere before the bond market, says Bleakley's... Higher tariffs to go into effect on August 1st Around the Web Calculated Risk Blog July ICE Mortgage Monitor: Home Prices Continue to Cool, Early Signs of Homeowner Risk Emerge Calculated Risk Blog Housing July 7th Weekly Update: Inventory up 2.7% Week-over-week, Only Down 10% from 2019 Levels Eye on Housing 2024 Multifamily Construction: Units Completed Reaches 38-year High CNBC Treasury yields hold steady as Trump extends tariff deadline CNBC Student loan borrowers will have fewer repayment options under GOP megabill American Bankers Assoc. Bank Economists: Credit Conditions May Weaken for Consumersand Businesses Over the Next Six Months CNBC U.S. payrolls increased by 147,000 in June, more than expected CNBC Homeowners insurance premiums vary widely from state to state. But they are all going up Calculated Risk Blog Trade Deficit increased to $71.5 Billion in May Calculated Risk Blog Comments on June Employment Report CNBC Treasury yields lower as investors await June's big jobs report Calculated Risk Blog Heavy Truck Sales Decreased in June Calculated Risk Blog Asking Rents Mostly Unchanged Year-over-year

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