What do mortgage rates have to do with Treasuries? Quite a lot, actually. U.S. Treasuries are the bills and bonds issued by the government. In addition to financing government spending, they are also the lifeblood of the financial system. Due to that central role, their liquidity, the immense size of the market, and because they're considered to be "risk free," Treasuries also serve as the baseline for most other interest rates in the U.S. This isn't to say that mortgage lenders simply look at Treasury yields plus a margin to set mortgage rates. But the trading value of Treasuries has a bearing on how mortgage-specific bonds trade. Put most simply, a mortgage bond buyer/seller compares returns between mortgage bonds and Treasuries to get an idea of the relative value of mortgage bonds. This impacts supply and demand such that mortgage rates typically behave very much like medium-term Treasuries. With all that out of the way, we're equipped to understand that any big news for Treasuries (even if it's specific to Treasuries) can have far reaching consequences. Today's big news involved a much-anticipated announcement of the size of the next Treasury buyback program. It's not important to understand the nuts and bolts of that program when it comes to today's mortgage rates. What's important is that the market was expecting a bigger announcement than it got. Even though Treasury buybacks ultimately imply more Treasury sales, they can temporarily boost demand and put downward pressure on rates. If the buyback amount is lower than expected, that means less demand than expected and higher rates, all else equal. 

September 9, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.97% +0.08%   5.99% 6.97% 15 Yr. Fixed 6.54% +0.05%   5.55% 6.54% 30 Yr. Jumbo 7.15% +0.07%   6.1% 7.15% Compare Mortgage Rates from Local Lenders for Sep 9, 2026 Mortgage Rates Jump After New Treasury Buyback Announcement Wed, Sep 9, 2026 3:07PM What do mortgage rates have to do with Treasuries? Quite a lot, actually. U.S. Treasuries are the bills and bonds issued by the government. In addition to financing government spending, they are also the lifeblood of the financial system. Due to that central role, their liquidity, the immense size of the market, and because they're considered to be "risk free," Treasuries also serve as the baseline for most other interest rates in the U.S. This isn't to say that mortgage lenders simply look at Treasury yields plus a margin to set mortgage rates. But the trading value of Treasuries has a beari... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.97% +0.08 0.00 15 Yr. Fixed 6.54% +0.05 0.00 30 Yr. FHA 6.50% +0.02 0.00 30 Yr. Jumbo 7.15% +0.07 0.00 7/6 SOFR ARM 6.53% 0.00 0.00 30 Yr. VA 6.52% +0.02 0.00 Updates Daily - Last Update: 9/9 Freddie Mac Rate Change Points 30 Yr. Fixed 6.71% +0.05 0.00 15 Yr. Fixed 6.04% +0.06 0.00 Updates Weekly - Last Update: 9/3 Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% +0.01 0.65 15 Yr. Fixed 6.14% +0.04 0.86 30 Yr. Jumbo 6.76% +0.03 0.40 Updates Weekly - Last Update: 9/2 UMBS 30YR 5.5 98.45 -0.32   98.45 101.64 UMBS 30YR 6.0 100.77 -0.21   100.77 102.75 10 YR Treasury 4.840 +0.049   3.948 4.840 Are Bonds Fighting Oil Implications Thanks to Buyback Hopes? Wed, Sep 9, 2026 10:30AM Not much is going on in terms of scheduled economic events until Thursday and Friday's PPI and CPI reports respectively. Those could be very big deals as some investors think the results will determine "hike vs hold" at next week's Fed meeting. Today's biggest to-do is probably the 11am announcement of the next round of Treasury buybacks. Treasury already an... (read more) MBS Price Change UMBS 5.0 95.86 -0.38 UMBS 5.5 98.45 -0.32 UMBS 6.0 100.77 -0.21 GNMA 5.0 96.19 -0.30 GNMA 5.5 98.79 -0.32 GNMA 6.0 100.93 -0.23 Pricing as of: 9/9 6:00PM EST US Treasury Yield Change 2 YR Treasury 4.432 +0.036 5 YR Treasury 4.617 +0.053 7 YR Treasury 4.724 +0.055 10 YR Treasury 4.840 +0.049 30 YR Treasury 5.291 +0.046 Pricing as of: 9/9 6:00PM EST Other News Correspondent, Signing, Multifamily Tools; STRATMOR Tech Survey; Capital Markets; Rocket's Loan Limits Wed, Sep 9, 2026 11:05AM What should we talk about today? Besides TSA bringing back gate access, here’s a leading IMB exec and his wife putting their Florida home on the market for “a pretty penny.” There’s talk at conferences, not only about things being slower than expected in 2026 and potentially even slower in 2027, but also of LO and branch movement. It reminds me of the adage,... (read more) Latest Video NY Fed: Inflation expectations largely unchanged at elevated level U.S. payrolls rose 162,000 in August, much more than expected; unemployment... Fed Governor Waller indicates he will support holding rates steady at Septe... ISM non-manufacturing PMI comes in at 55.4 in August, beating expectations Around the Web CNBC Treasury Department to buy back $6 billion in longer-term debt, triple the normal level Investing Live US sells 10-year notes at 4.834% vs 4.849% WI CNBC Demand for riskier mortgages rises again, along with interest rates BLS Unemployment rates lower in 241 metro areas, up in 128, over year ended July 2026 CNBC Bessent bond plan details to be revealed as Treasury secretary warns FX traders he's 'the house now' PR Newswire U.S. private employers added an average of 12,000 jobs per week Investing Live U.S. Treasury sells $58 billion of 3 or notes at a high yield of 4.474% Investing Live NY Fed survey: Expectations for rising unemployment rise to highest since April 2020 Eye on Housing Single-Family Home Construction Time Declines in 2025 CNBC U.S. 2-year Treasury yield rises as oil tops $100 a barrel Investing Live How oil prices influence inflation, inflation expectations and monetary policy The Conference Board The Conference Board Employment Trends Index™ (ETI) Increased in August Eye on Housing Who Are NAHBs Builder Members?

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