Mortgage Rates Improve Slightly After Starting Out Flat

10yr Auction to The Rescue Today's 10yr Treasury auction was the only relevant calendar event in terms of potential market movement and it lived up to its billing. Unlike the set-up to many auctions, there was no meaningful weakness in bonds ahead of the 1pm cut-off. The results themselves were decidedly strong and the immediacy of the market reaction reflected that. Yields dropped 4bps more or less instantly, and MBS ultimately added another eighth of a point of improvement to the eighth that was already in play before the auction. From here, attention turns to Wednesday's Fed announcement, specifically for Powell's press conference (because there's zero chance of a rate cut at this meeting). Econ Data / EventsTrade Gap-140.50b vs -137b f'cast, -123.20b prev Market Movement Recap09:25 AM Initially weaker overnight, then steadily stronger into AM hours. MBS unchanged and 10yr nearly unchanged at 4.344 01:04 PM Moving into positive territory after 10yr auction (which came in about 1.2bps below expectations). 10yr yield now down 2.1bps on the day at 4.326 and MBS up nearly an eighth of a point. 02:25 PM Off the best levels, but still stronger. MBS up 6 ticks (.19). 10yr down 2.5bps at 4.321 03:59 PM Back in rally mode. MBS up a quarter point and 10yr down 4.2bps at 4.303

May 6, 2025 Download our Mobile App: Download our Mobile App: MBS Commentary 10yr Auction to The Rescue 10yr Auction to The Rescue Today's 10yr Treasury auction was the only relevant calendar event in terms of potential market movement and it lived up to its billing. Unlike the set-up to many auctions, there wa... (read more) Mortgage Rate Watch Mortgage Rates Improve Slightly After Starting Out Flat Mortgage rates were unchanged for the average lender this morning, thanks to a modest improvement in the bond market overnight. Rates were on course to remain mostly flat until the afternoon's scheduled 10yr Treasury auction. The market's... (read more) Rob Chrisman STRATMOR's Tech Survey Results; Commercial Appraisal, Non-QM Investor, Compliance Tools This is the month of the MBA’s National Secondary in Manhattan. For some trivia, the nickname "The Big Apple" originated in the 1920s in reference to the prizes (or "big apples") rewarded at the many racing courses in and around New York City. Howeve... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.88% -0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.88% -0.02 0.00 15 Yr. Fixed 6.21% -0.01 0.00 30 Yr. FHA 6.28% -0.01 0.00 30 Yr. Jumbo 7.01% -0.01 0.00 7/6 SOFR ARM 6.44% -0.01 0.00 30 Yr. VA 6.30% 0.00 0.00 Updates Daily - Last Update: 5/6 15 Yr. Fixed Rate 6.21% -0.01% Rate Change Points Freddie Mac 30 Yr. Fixed 6.76% -0.05 0.00 15 Yr. Fixed 5.92% -0.02 0.00 Updates Weekly - Last Update: 5/1 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.89% -0.01 0.00 15 Yr. Fixed 6.17% -0.03 0.76 30 Yr. Jumbo 6.88% -0.02 0.60 Updates Weekly - Last Update: 4/30 MBS / Treasuries UMBS 30YR 5.5 99.36 +0.28 Price / Yield Change MBS UMBS 5.5 99.36 +0.28 UMBS 6.0 101.15 +0.21 GNMA 5.5 99.57 +0.20 GNMA 6.0 100.98 +0.13 Pricing as of: 5/6 5:31PM EST 10 Year US Treasury 4.2965 -0.0488 Price / Yield Change US Treasury 2 YR Treasury 3.783 -0.052 5 YR Treasury 3.890 -0.049 7 YR Treasury 4.089 -0.046 10 YR Treasury 4.297 -0.049 30 YR Treasury 4.799 -0.038 Pricing as of: 5/6 5:31PM EST Latest Video CNBC Fed Survey: Respondents confident Fed will cut interest rates this yea... It may be time for a neutral Fed, says Jefferies' David Zervos PIMCO CEO: Economy may already be in a recession The Fed's dilemma: Higher prices and weaker growth Around the Web Eye on Housing Prices for New Homes Continue to Drop as Existing Rises CNBC The Fed meets with uncertainty permeating the air. Here's what to expect Bloomberg (Video) FHFA's Pulte Says Agency is Building on Ideas From First Trump Term CNBC Wobbling economy will push the Fed to cut interest rates later this year, CNBC survey finds Eye on Housing Mortgage Activity Levels Off in April as Rates Increase CNBC The Federal Reserve is likely to hold interest rates steady this week. Here's what that means for your borrowing costs Calculated Risk Blog ICE Mortgage Monitor: Home Prices Continue to Cool Calculated Risk Blog Asking Rents Mostly Unchanged Year-over-year Forex Live US March international trade balance -140.5B vs -137.0B expected CNBC Treasury yields hold steady as investors await Fed's policy meeting PR Newswire ISM: US services activity improves in April Eye on Housing Student Housing Construction Investment Rises in the First Quarter of 2025 Forex Live US April S&P Global final services PMI 50.8 vs 51.4 prelim

© 2025 Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc. This email was sent to: [email protected]. Go here to UNSUBSCRIBE from this email.