Correction Starting to Level Off? Even though very little changed during the course of the trading day, one potentially important thing happened.  Rather than start weaker and continue to lose ground throughout the session, bonds managed to stop the bleeding early and then push back toward unchanged levels by the end of the day. This is the kind of thing typically seen when a corrective trend is running out of steam in the short term. While this doesn't make the bond market immune from another motivation to sell, it suggests that the market is now open to suggestion from either bulls or bears, and that's an upgrade from the selling bias seen on Monday. Market Movement Recap 10:04 AM Moderately weaker overnight with some additional selling early.  MBS down an eighth and 10yr up 3.8bps at 4.419 01:36 PM sideways all day.  MBS still down an eighth and 10yr up 2.1bps at 3.877 03:33 PM Very slight recovery, but very low volatility.  MBS down 3 ticks (.09) and 10yr up 1.3bps at 3.869

July 8, 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 8, 2025 Mortgage Rates Still Lower Than May/June Despite Drifting Higher Tue, Jul 8, 2025 3:26PM Bad news first: mortgage rates have been moving steadily higher in July with the average top tier 30yr fixed scenario rising from 6.67% to 6.81% in just 4 business days.  This isn't an incredibly abrupt move, but it's slightly brisk compared to the average day of rate movement. The good news is twofold. First off, we often tend to see slightly brisk movement in the opposite direction after experiencing a consistent trend in the other direction. The month of June was arguably such a trend, and it took rates to their lowest levels in several months.  Secondly, and more simply, apart ... (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 Correction Starting to Level Off? Tue, Jul 8, 2025 3:44PM Correction Starting to Level Off? Even though very little changed during the course of the trading day, one potentially important thing happened.  Rather than start weaker and continue to lose ground throughout the session, bonds managed to stop the bleeding early and then push back toward unchanged levels by th... (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: 2/6 8:58PM 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: 2/6 8:58PM EST Other News MSR Exchange, DSCR, DPA/Energy, Automated Bank Statement Analysis; LO Comp Changes Tue, Jul 8, 2025 12:17PM We’re in the summer travel season. TSA will be eliminating its “shoes off” policy, and many will be sampling today’s rollout of Spicy McMuffin breakfast sandwiches at Mickey D’s. My cat Myrtle was never a fan of the TSA, believing, perhaps, given her cynical nature, that their staff was filled with Walmart security guard rejects. (Did you know that you can o... (read more) 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 1st Look at Local Housing Markets in June CNBC Inflation expectations drift back down to pre-tariff levels, New York Fed survey shows Calculated Risk Blog July ICE Mortgage Monitor: Home Prices Continue to Cool, Early Signs of Homeowner Risk Emerge Eye on Housing Top Ten Builder Share Rises Again in 2024 Calculated Risk Blog Wholesale Used Car Prices Increased in June; Up 6% Year-over-year CNBC Treasury yields rise as Trump's new tariff rates in focus Eye on Housing 2024 Multifamily Construction: Units Completed Reaches 38-year High Calculated Risk Blog Housing July 7th Weekly Update: Inventory up 2.7% Week-over-week, Only Down 10% from 2019 Levels CNBC Treasury yields hold steady as Trump extends tariff deadline American Bankers Assoc. Bank Economists: Credit Conditions May Weaken for Consumersand Businesses Over the Next Six Months Calculated Risk Blog Trade Deficit increased to $71.5 Billion in May Calculated Risk Blog Small Business Optimism Index decreased slightly in June CNBC European markets head for a lower open as traders digest Trump's tariffs announcement

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