A "No Reaction" Sort of Day Granted, there were no big ticket economic reports on tap for Monday, but there were several events that had at least some small chance to inspire some momentum. These included the 2 and 5 year Treasury auctions (both earlier in the week than normal due to month-end falling on a Thursday) and Treasury borrowing estimates for fiscal Q4 (Jul-Sep). The latter is part 1 of 2.  The 2nd part arrives on Wednesday afternoon with the full breakdown of new auction amounts. Today's release provided an updated total amount.  After filtering out the noise, and giving credit for undershooting borrowing needs last quarter, borrowing estimates only increased $4bln for Q3 and Q4--not enough to stress out the bond market today. Bottom line: no discernible reaction to the auctions or the Treasury news.  On to econ data now, starting with Tuesday's Job Openings at 10am ET. Market Movement Recap 10:17 AM Sideways to slightly weaker overnight. MBS down 2 ticks (.06) and 10yr up 1.6bps at 4.404 11:35 AM No major reaction to 2yr auction, nor would we expect one.  MBS down 3 ticks (.09) and 10yr up 2.6bps at 4.415 01:43 PM No major reaction to 5yr auction despite much weaker results. MBS down 2 ticks (.06) and 10yr up 1.9bps at 4.408 03:42 PM No reaction to Treasury borrowing estimates. MBS down 2 ticks (.06) and 10yr up 2.5bps at 4.413

July 28, 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 28, 2025 Mortgage Rates Hold Perfectly Flat to Start New Week Mon, Jul 28, 2025 3:15PM If any given week of movement in the mortgage rate world came with disclaimer, this one would be: "Warning. An absence of volatility on Monday has no bearing on odds for volatility in the rest of the week." More simply put, you're essentially guaranteed to see more rate movement over the next 4 days simply because today saw none. Of all of the days this week, Monday was the best candidate for a ho-hum level of movement because it was the only day without any major economic data on tap. Rates are based on bonds, and econ data is a key source of inspiration for bonds.  While not technical... (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 A "No Reaction" Sort of Day Mon, Jul 28, 2025 4:15PM A "No Reaction" Sort of Day Granted, there were no big ticket economic reports on tap for Monday, but there were several events that had at least some small chance to inspire some momentum. These included the 2 and 5 year Treasury auctions (both earlier in the week than normal due to month-end falling on a Thursday) ... (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 1:38AM 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 1:38AM EST Other News Warehouse, MSR Financing, Productivity Tools; Training and Webinars; ABA Interview Mon, Jul 28, 2025 11:50AM “Since it started raining, all my husband has done is look sadly through the window. If it gets any worse, I'll have to let him in.” (My son Robbie finds himself today in Hudson, Wisconsin, where there is indeed a chance of rain in 90 degree heat.) At what point does “extreme” weather become “commonplace,” and the public immune? The roller coaster of weather... (read more) Latest Video President Trump says most trade deals will be done by August 1 President Trump set to visit the Federal Reserve U.S. Treasury expects to borrow $1T for Q3, higher than earlier announced U.S. trade delegation arrives for trade talks with China Around the Web Eye on Housing A Warning Sign: Homeownership Rate Declines to Lowest Level Since 2019 US Treasury Treasury Announces Marketable Borrowing Estimates Calculated Risk Blog Housing July 28th Weekly Update: Inventory up 0.4% Week-over-week; Down 10% from 2019 Levels US Treasury Economy Statement for the Treasury Borrowing Advisory Committee CNBC Trump: Global baseline tariff will likely be 15% to 20% CNBC Trump says he believes Powell is ready to start lowering rates CNBC A breakthrough and a burden? What the U.S.-EU trade deal means for the auto sector CNBC Treasury yields tick lower as investors look ahead to Fed's interest rate decision Calculated Risk Blog TSA: Airline Travel Mostly Unchanged YoY Calculated Risk Blog Final Look at Local Housing Markets in June and a Look Ahead to July Sales CNBC Student loan forgiveness may soon be taxed again here's how much borrowers could owe Calculated Risk Blog Q2 GDP Tracking: Mid-2s The Hill Trump to meet with EU leader in Scotland for trade talks

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