Month End Buying Pushes Back on Mid-Day Weakness Bonds began the day in stronger territory as investors  reacted to weekend tariff news with a risk-off move.  Stocks bounced shortly after the NYSE open and bond yields were pulled higher in concert.  That prevailing correlation broke down around 3pm due to month/quarter end bond buying (3pm is the official close for bonds, even though trading continues until 5pm). There was no major reaction to econ data or Fed speakers today.  The data becomes more relevant in the coming days.  Econ Data / Events Chicago PMI 47.6 vs 45.2 f'cast, 45.5 prev Market Movement Recap 09:54 AM Stronger overnight as stocks continue tanking.  MBS up 3 ticks (.09) and 10yr down 2.7bps at 4.208 11:30 AM Weakest levels of the day. MBS nearly unchanged and 10yr still down 1.3bps at 4.223 03:10 PM Some month/quarter end buying at 3pm helping a modest recovery.  10yr down 0.3bps at 4.232.  MBS unchanged. 

March 31, 2025 Download our Mobile App: Download our Mobile App: MBS Commentary Month End Buying Pushes Back on Mid-Day Weakness Month End Buying Pushes Back on Mid-Day Weakness Bonds began the day in stronger territory as investors  reacted to weekend tariff news with a risk-off move.  Stocks bounced shortly after the NYSE o... (read more) Mortgage Rate Watch Mortgage Rates Inch Lower, But Remain Broadly Sideways "Sideways" has been the dominant theme for mortgage rates for well over a month now. The average top tier 30yr fixed rate fell below 6.82% on February 25th, and moved down to 6.70% the following week.  We haven't been outside of that range since... (read more) Rob Chrisman Non-QM Products; Rocket/Mr. Cooper Deal; Disaster and Climate News; Tariff Impact Looms It’s been three years since Credit Plus re-branded as Xactus, and now another name brand in the mortgage world has a new name. Corelogic has become Cotality, leading to plenty of puns like, “If First American ever considers rebranding, let's hope the... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.75% +0.04% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.75% +0.04 0.00 15 Yr. Fixed 6.14% +0.02 0.00 30 Yr. FHA 6.15% +0.04 0.00 30 Yr. Jumbo 6.88% +0.01 0.00 7/6 SOFR ARM 6.30% +0.05 0.00 30 Yr. VA 6.17% +0.05 0.00 Updates Daily - Last Update: 4/2 15 Yr. Fixed Rate 6.14% +0.02% Rate Change Points Freddie Mac 30 Yr. Fixed 6.65% -0.02 0.00 15 Yr. Fixed 5.89% +0.06 0.00 Updates Weekly - Last Update: 3/27 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.93% -0.02 0.66 15 Yr. Fixed 6.31% -0.04 0.70 30 Yr. Jumbo 7.03% +0.07 0.53 Updates Weekly - Last Update: 2/19 MBS / Treasuries UMBS 30YR 5.5 100.29 +0.26 Price / Yield Change MBS UMBS 5.5 100.32 +0.29 UMBS 6.0 101.97 +0.34 GNMA 5.5 101.01 +0.15 GNMA 6.0 101.79 +0.14 Pricing as of: 4/3 4:10AM EST 10 Year US Treasury 4.0611 -0.0625 Price / Yield Change US Treasury 2 YR Treasury 3.788 -0.066 5 YR Treasury 3.806 -0.052 7 YR Treasury 3.917 -0.091 10 YR Treasury 4.059 -0.065 30 YR Treasury 4.449 -0.048 Pricing as of: 4/3 4:10AM EST Latest Video The Fed's next cut likely to be based on a weakening labor market, says Mac... Rocket Companies CEO: We want to create frictionless experience around home... March Chicago PMI 47.6 vs. 43.6 estimated Retail sales are likely to bounce back in April and May, says Ed Yardeni Around the Web Eye on Housing Affordability Pyramid Shows 94 Million Households Cannot Buy a $400,000 Home Seeking Alpha Chicago PMI rises more than expected in March Calculated Risk Blog Housing March 31st Weekly Update: Inventory up 1.1% Week-over-week, Up 30.6% Year-over-year Calculated Risk Blog Freddie Mac House Price Index Increased in February; Up 3.4% Year-over-year The Basis Point Rocket buying Mr. Cooper for $9.4b creates largest U.S. mortgage shop by far CNBC First-quarter GDP growth will be just 0.3% as tariffs stoke stagflation conditions, says CNBC survey CNBC Late student loan bills can drop credit scores by up to 171 points, Federal Reserve warns CNBC Treasury yields fall as investors brace for Trump tariffs, key jobs data in week ahead CNBC Core inflation in February hits 2.8%, hotter than expected; income jumps 0.8% Calculated Risk Blog Q1 GDP Tracking: -0.5% to 1% CNBC German inflation eases to 2.3% in March, slightly lower than expected CNBC Consumer sentiment worsens as inflation fears grow, University of Michigan survey shows Calculated Risk Blog Personal Income increased 0.8% in February; Spending increased 0.4%

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