Mortgage Rates Little Changed, But Friday Could See a Bigger Move

Bonds Dial Back Ahead of Big Jobs Report It was a fairly interesting day for bonds, relative to the calendar of scheduled events. Domestic econ data was unimportant and markets traded accordingly from 8:30-8:45am. At that point, the European Central Bank announcement hit the wires and the takeaway was fairly hawkish, despite the rate cut. At the same time, newswires made the rounds regarding a Trump/Xi phone call that could lead to future meetings and improved trade relations--a narrative that's generally produced "risk-on" results for stocks and bonds. Then in the afternoon, stocks pulled back as Trump and Musk exchanged words on social media (TSLA down about 16% on the day). Lastly, we could also be seeing both sides of the market moving to cash to some extent ahead of the jobs report. Either way, the willingness to react to data so far this week means Friday's jobs data should be treated with just as much respect as normal. Econ Data / EventsJobless Claims 247k vs 235k f'cast, 239k prev Market Movement Recap08:42 AM Slightly stronger overnight and little-changed after econ data. MBS up an eighth and 10yr down 3bps at 4.326 09:26 AM Losing ground after ECB announcement. MBS down 1 tick (.03) and 10yr up half a bp at 4.36

June 5, 2025 Download our Mobile App: Download our Mobile App: MBS Commentary Bonds Dial Back Ahead of Big Jobs Report Bonds Dial Back Ahead of Big Jobs Report It was a fairly interesting day for bonds, relative to the calendar of scheduled events. Domestic econ data was unimportant and markets traded accordingly from 8... (read more) Mortgage Rate Watch Mortgage Rates Little Changed, But Friday Could See a Bigger Move Mortgage rates began the day perfectly in line with yesterday's latest levels for the average lender. By the afternoon, the underlying bond market had lost enough ground that a handful of lenders were forced to issue mid-day reprices thus taking the ... (read more) Rob Chrisman Hedging, Reverse 2nd Lien, HELOC, Borrower Portal, Broker, 2nd Mortgage Products; Florida Insurance News The last time I was in Florida I saw a bumper sticker that said, “I thought growing old would take longer.” This weekend I return to the Sunshine State (the MBAF’s Eastern Secondary is coming up), and I mention this because the state is the epicenter... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.89% +0.02% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.89% +0.02 0.00 15 Yr. Fixed 6.14% +0.02 0.00 30 Yr. FHA 6.38% 0.00 0.00 30 Yr. Jumbo 6.95% -0.03 0.00 7/6 SOFR ARM 6.24% -0.02 0.00 30 Yr. VA 6.40% 0.00 0.00 Updates Daily - Last Update: 6/5 15 Yr. Fixed Rate 6.14% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.85% -0.04 0.00 15 Yr. Fixed 5.99% -0.04 0.00 Updates Weekly - Last Update: 6/5 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.92% +0.06 0.69 15 Yr. Fixed 6.21% +0.09 0.72 30 Yr. Jumbo 6.94% +0.09 0.72 Updates Weekly - Last Update: 5/21 MBS / Treasuries UMBS 30YR 5.5 99.00 -0.19 Price / Yield Change MBS UMBS 5.5 99.00 -0.19 UMBS 6.0 101.00 -0.16 GNMA 5.5 99.28 -0.18 GNMA 6.0 100.98 -0.13 Pricing as of: 6/5 5:31PM EST 10 Year US Treasury 4.3930 +0.0378 Price / Yield Change US Treasury 2 YR Treasury 3.925 +0.052 5 YR Treasury 3.992 +0.064 7 YR Treasury 4.183 +0.056 10 YR Treasury 4.393 +0.038 30 YR Treasury 4.882 +0.004 Pricing as of: 6/5 5:31PM EST Latest Video U.S. trade deficit tumbles to $61.6B vs. $66.3B estimated WSJ's Nick Timiraos: Very hard to see the Fed cutting rates until unemploym... ISM Services PMI falls to 49.9 in May S&P Global U.S. Services PMI improves to 53.7 Around the Web Marketwatch Jobless claims jump to 8-month high. But it's probably not a sign of rising layoffs from trade wars. Calculated Risk Blog May Employment Preview CNBC Federal student loan interest rates just fell for the first time in 5 yearshere's what borrowers will pay on new loans Marketwatch U.S. trade deficit cut in half in April on plunge in imports from Trump tariffs CNBC Fed 'Beige Book' economic report cites declining growth, rising prices and slow hiring Eye on Housing States with Highest and Fastest Rising Construction Wages, 2025 Calculated Risk Blog Q1 Update: Delinquencies, Foreclosures and REO CNBC Trump held call with Xi, Chinese media says Eye on Housing Mortgage Applications Dip in May amid Refinance Slowdown CNBC Treasury yields steady after sharp Wednesday declines on weak data CNBC European Central Bank trims interest rates after inflation dips below target Calculated Risk Blog Heavy Truck Sales Down 8% YoY in May CNBC European stocks set to open higher as ECB widely expected to cut interest rates

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