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: MBS Commentary Correction Starting to Level Off? 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 thr... (read more) Mortgage Rate Watch Mortgage Rates Still Lower Than May/June Despite Drifting Higher 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 ... (read more) Rob Chrisman MSR Exchange, DSCR, DPA/Energy, Automated Bank Statement Analysis; LO Comp Changes 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... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.81% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.81% +0.02 0.00 15 Yr. Fixed 6.02% +0.03 0.00 30 Yr. FHA 6.34% +0.05 0.00 30 Yr. Jumbo 6.90% +0.01 0.00 7/6 SOFR ARM 6.45% +0.10 0.00 30 Yr. VA 6.35% +0.05 0.00 Updates Daily - Last Update: 7/8 15 Yr. Fixed Rate 6.02% +0.03% Rate Change Points Freddie Mac 30 Yr. Fixed 6.67% -0.10 0.00 15 Yr. Fixed 5.80% -0.09 0.00 Updates Weekly - Last Update: 7/3 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.79% -0.09 0.62 15 Yr. Fixed 6.06% -0.05 0.67 30 Yr. Jumbo 6.78% -0.10 0.40 Updates Weekly - Last Update: 6/26 MBS / Treasuries UMBS 30YR 5.5 99.44 -0.01 Price / Yield Change MBS UMBS 5.5 99.46 +0.00 UMBS 6.0 101.33 +0.00 GNMA 5.5 99.62 +0.00 GNMA 6.0 101.24 -0.01 Pricing as of: 7/9 4:07AM EST 10 Year US Treasury 4.3993 -0.0069 Price / Yield Change US Treasury 2 YR Treasury 3.891 -0.004 5 YR Treasury 3.970 -0.001 7 YR Treasury 4.168 -0.007 10 YR Treasury 4.394 -0.012 30 YR Treasury 4.913 -0.014 Pricing as of: 7/9 4:07AM 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 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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